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NAMI: Prices for Cattle at Record Highs; Grassley-Fischer & Special Investigator Bills Costly
With the U.S. House and Senate considering legislation to intervene in beef and cattle markets, prices for cattle are at or near record highs calling into question the need for heavy-handed government interference.
“Just last week one cattle marketing analyst described the high prices as ‘stratospheric,’” said Julie Anna Potts, President and CEO of the North American Meat Institute. “As many industry economists have said, the beef and cattle markets are continuing to behave predictably given supply and demand and do not need government mandates and...
Rabobank: Beef Quarterly Q2 2022
The first signs of softening consumer confidence are apparent in most markets, with wholesale prices for beef coming under pressure even though production costs are higher. A downward adjustment of cattle prices and upstream input costs will be needed to restore processor margins and to maintain beef’s competitiveness with consumers. We expect ongoing adjustments of consumption and margins in all markets as we head into Q3 2022.
Meanwhile, lockdowns in China and biosecurity risks in Indonesia pose notable implications for trade. Lockdowns of major Chinese cities are further constraining beef demand and restricting foodservice sales...
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