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Farms.com Home  › Expert Commentary

Don Close Considers The Increase In Beef Supplies - Gives His Prediction Of The Markets

Jul 27, 2016
It was the supply of available cattle outside the feed yards in 2015 which continued to build that has increased cow numbers, claims Don Close, vice president of Food and Agribusiness Research and Advisory, Animal Protein at Rabo AgriFinance.
 
Don Close Considers the Increase in Beef Supplies - Gives His Prediction of the Markets
 
“Personally, I think that has been a bigger part of the supply of feeder cattle,” Close said.
 
Close says though that this was to be expected, taking into account that the U.S. beef industry is currently working to rebuild its herd, and says that more cattle are in the pipeline.
 
Close has projected that market prices may level out around $1.20, which is approximately where prices rest now. Cautiously, Close defends that his projection will be met, predicting that on average, prices should plateau around $1.20 for the third quarter.
 
“If that’s a quarterly average, should you expect some sub-$1.20 sales in that mix, no doubt,” Close says.
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