U.S. outlook says cattle prices could rise in coming months

Cattle producers can use a little positive news amidst the ongoing drought, feed shortages and dried up dugouts.

The National Cattlemen’s Beef Association Convention was held in Nashville, Tennessee earlier this month.

Bob Lowe, President of the Canadian Cattlemen’s Association was in attendance.

He says the cattle price outlook presented is very promising for next year and beyond.

Lowe says a Cattlefax forecast pointed out world cattle supplies are dwindling, amid growing demand.

He says “there is drought to get through, but if you can keep cattle, you will be well paid.”

Global Agri Trends is forecasting that global beef demand is expected to increase three times faster than supply in the coming years.

Lowe was also reassured by U.S. cattle producers that Secretary of Agriculture Tom Vilsack has no plans to re-introduce Mandatory Country of Original Labelling legislation.

After nearly two years of COVID, Lowe says it was good to be able to talk to U.S cattle producers person to person, both on a formal and informal basis.
(with files from cjww)

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