How much are calves going for in 2021?
— 550-pound steers: The smaller calf supply will put the average at $170 per cwt for 2021, but the recent liquidation due to drought will lead to smaller calf crops going forward. The average 550-pound steer in 2022 could see a $30 per cwt bump in prices to an average of $200 with a price range from $170 to $230.
Why are feeder cattle prices dropping?
Worsening drought conditions in the Western United States have caused feeder cattle and cull cows to come to market earlier and higher grain prices due to low stocks-to-use ratios and worsening global corn production have caused a run-up in grain prices lowering a feedlot’s demand for feeder cattle.
Will feeder cattle prices go up in 2021?
All cattle classes are expected to trade higher, and prices are expected to improve over the next three years. Retailers and restaurants continue to adjust prices higher to cover costs. He added the retail beef prices are expected to average $6.80/lb. in 2021 and increase to $6.85/lb.
Will beef prices go back down?
According to the Economic Research Service, the price of beef and veal in the CPI has risen 5.2% from January-August 2021 compared to the same period in 2020. The forecast range for the entirety of 2021 for beef and veal is an increase of 5-6%. The forecast range for the entirety of 2021 is an increase of 6-7%.
What does the Tennessee market news service do?
To help Tennessee’s farmers and agribusinesses make sound marketing decisions, the Tennessee Department of Agriculture and the United States Department of Agriculture provide the Tennessee Market News Service. Tennesseans have relied on this service for many years.
Where can I find feeder pig market news?
Livestock Futures, Chicago Mercantile Exchange. U.S. Feeder Pig Report, USDA Market News.
How to contact the Tennessee Department of Agriculture?
Timely and reliable information is compiled and updated several times a day through voice mail recordings via a toll-free hotline service provided by the Tennessee Department of Agriculture. The number to call is 1-800-342-8206.
What do you need to know about agricultural market news?
Tennesseans have relied on this service for many years. Trained reporters gather and disseminate complete, accurate, unbiased and up to the minute agricultural market news information depicting the current conditions of supply, demand, price, trend, movement and other information affecting the trade of livestock, grain and other commodities.