Cattle and Sheep Outlook, November 13, 1996. Supplement to Livestock, Dairy, andPoultry Situation and Outlook

摘要

Declining grain prices and tight supplies of higher grading fed cattle at higherprices have brought higher returns to cattle feeders. But returns for feeder cattle producers are not likely to improve significantly until spring 1997. Feeder cattle producers will continue to operate under the pressures of relatively high grain prices and tight forage supplies until next spring. While grain prices will hold down feeder cattle price gains, tight forage supplies and low feeder cattle prices will likely result in continued large cow slaughter. Although grain production estimates continue to be revised upward, ending grain stocks are low and feed grains are expected to remain relatively expensive.