University of Missouri livestock economist Scott Brown highlights the critical need for ongoing risk management within the cattle industry, even as improved drought conditions suggest potential expansion. Brown notes that recent rainfall has been beneficial, improving the likelihood of forage reserves, which could lead to industry growth.
Despite cattle prices remaining high, Brown advises caution, recalling the rapid herd expansion of 2014/2015, which negatively impacted prices. He emphasizes the importance of closely monitoring various data points, particularly in the absence of the July Cattle Inventory report. Key indicators such as USDA’s Livestock Slaughter report, due Thursday, will be crucial for industry stakeholders to watch for signs of herd expansion.
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