That demand translates into the best prices for fed cattle being sent to processing plants since 1993. But, he threw in a caution that an outbreak here of diseases now found in the United Kingdom would wreck that bright outlook.
Several factors contribute to the surging price.
Foreign buyers also have developed a taste for U.S. beef. And USDA predicts we'll set another export record this year. Increased demand, both domestic and export, is meeting decreased supply. The U.S. cowherd is in the descending side of the cattle cycle, with a declining breeding herd. A harsh winter has cut gains of cattle being fed for market.