Will demand keep cattle prices elevated or will supply push them down

Drought and dryness in the northern Plains hasn’t been enough to stop cattle growth, according to the mid-year cattle inventory numbers from the U.S. Department of Agriculture (USDA). The total herd is now 4 percent bigger than last summer at 103 million head, the largest number of cattle in nearly a decade. Beef cow numbers are 7 percent higher, although replacement heifer numbers are actually down compared to 2016. Some analysts are saying the numbers show the beef cow herd expansion is leveling off. Drovers CattleNetwork’s AgDay talked to  Naomi Blohm, senior market advisor for Stewart-Peterson, about markets and prices. Read more…