The latest Cattle on Feed report from November showed inventory has increased 6 percent from 2016 numbers. The pork herd is also continuing to grow at near record levels, and it appears production won’t be slowing down any time soon with new pork plants that came online in 2017.
Julianne Johnston, digital managing editor with Pro Farmer, is expecting both herds to grow moving into 2018. The only caveat is could be demand not syncing with supply.
“We have growth in domestic demand because the economy is getting spurred, and we’re in a period where beef demand should see another spurt for the holidays,” she said.
Johnston said the real key is for hog and cattle producers to keep their feedlots current.
“Extra weight is going to add an extra tonnage and more pressure on demand,” she said.
Hear her thoughts on if demand can support prices going into the spring on AgDay above.