Supplies will lower retail meat prices, affect cow-calf returns

Consumers are paying less for red meat and poultry this year, and USDA’s Economic Research Service says that trend will continue through the end of 2017. The agency expects a moderate increase in meat prices neat year. Lower retail meat prices are a result of increasing supplies, and through August USDA said the U.S. cattle herd was the largest since 2008. Excellent feedyard profits the first half of this year and an increase in feeder cattle supplies have put more cattle on feed and increased beef production more than 3 percent. Total beef production this year will reach 26.2 billion pounds, the largest total since 2010. Read more…