Author Topic: HOLY COW: Beef prices set to surge further as farmers sell off cattle herds (Read 2302 times)

mystery-ak · « **on:** July 30, 2022, 09:51:16 am »

Beef prices set to surge further as farmers sell off cattle herds
More breeding stock is being sent to the sale barn amid soaring input costs and drought conditions

By Breck Dumas FOXBusiness

U.S. cattle producers are sending higher numbers of breeding stock to the sale barn, and some are liquidating their herds entirely, signaling a trend that analysts say will likely push already-elevated beef prices even higher in the not-too-distant future.

The latest cattle report from the U.S. Department of Agriculture shows the market has contracted to levels not seen in years, with total inventory dropping 2% to 98.8 million head since July 2021.
cattle inventory

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https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2022/07/1862/1046/USDA-cattle-inventory.jpg?ve=1&tl=1

But it's not just the reduction in cattle overall that is of concern. It's what is getting sent to slaughter. There is a notable boost in calf-producing females getting sold for processing in addition to steers, which are typically favored for consumption.

"We are seeing large numbers of female stock have been placed in feedlots," USDA livestock analyst Shayle Shagam said in a radio report for the agency Tuesday.

more
https://www.foxbusiness.com/economy/beef-prices-set-surge-further-farmers-sell-cattle-herds

catfish1957 · « **Reply #1 on:** July 30, 2022, 10:11:24 am »

With the liquidation of herds, there should be at least a short term lowering of prices. That supply and demand thing, you know. (Unless something's amiss).

Smokin Joe · « **Reply #2 on:** July 30, 2022, 12:35:59 pm »

Quote from: catfish1957 on July 30, 2022, 10:11:24 am

With the liquidation of herds, there should be at least a short term lowering of prices. That supply and demand thing, you know. (Unless something's amiss).

Unless the surplus is being sold to the Chinese...

MajorClay · « **Reply #3 on:** July 30, 2022, 12:39:15 pm »

Reducing the breeder cattle; not good

catfish1957 · « **Reply #4 on:** July 30, 2022, 12:39:45 pm »

Quote from: Smokin Joe on July 30, 2022, 12:35:59 pm

Unless the surplus is being sold to the Chinese...

True dat!!!!

Free Vulcan · « **Reply #5 on:** July 30, 2022, 04:32:28 pm »

I know the local locker business is booming with people now getting their beef direct and cheaper by bypassing the stores.

Idiot · « **Reply #6 on:** July 30, 2022, 04:48:15 pm »

Quote from: Free Vulcan on July 30, 2022, 04:32:28 pm

I know the local locker business is booming with people now getting their beef direct and cheaper by bypassing the stores.

All of my friends are selling their cattle. There is no water and no grass at all.

Free Vulcan · « **Reply #7 on:** July 30, 2022, 04:50:22 pm »

Quote from: mrpotatohead on July 30, 2022, 04:48:15 pm

All of my friends are selling their cattle. There is no water and no grass at all.

We're getting a little droughty here in the Florida of Iowa but for the must part things are still pretty green everywhere.

deb · « **Reply #8 on:** July 30, 2022, 05:57:47 pm »

Quote from: mrpotatohead on July 30, 2022, 04:48:15 pm

All of my friends are selling their cattle. There is no water and no grass at all.

We went through a drought last year in our state. My daughter and her husband had to sell half of their herd. Barely enough rain to make a few hay bales from our hay pasture. Purchase price of bales from elsewhere was RIDICULOUS.
This year we are no longer in a drought and the grass has been plentiful. Son-in-law is out making bales right now.

libertybele · « **Reply #9 on:** July 30, 2022, 06:08:33 pm »

I just replenished our two small freezers with meat and I'm trying to keep them stocked.

Kansas City steaks are off the grocery list; prices are too high. Omaha steaks as well. I'm buying Braveheart Angus which is a little more affordable and it is pretty darn tasty. I bought pork and chicken that was on sale last week for $2.99 and $3.99/lb.

IsailedawayfromFR · « **Reply #10 on:** July 30, 2022, 06:36:43 pm »

Buy beef now while it remains affordable.

It won't be next year.

mountaineer · « **Reply #11 on:** July 30, 2022, 06:39:23 pm »

Kroger will have ground sirloin on sale, starting Wednesday, for $3.99/lb., I believe. May as well get a few pounds, form some patties and stick 'em in the freezer.

mystery-ak · « **Reply #12 on:** July 30, 2022, 06:56:29 pm »

Quote from: mountaineer on July 30, 2022, 06:39:23 pm

Kroger will have ground sirloin on sale, starting Wednesday, for $3.99/lb., I believe. May as well get a few pounds, form some patties and stick 'em in the freezer.

We just got 2 more chuck roasts and hamburger.....we are out of room and Mike is talking about getting another freezer...that would make 3 ...we will start blowing fuses...

I may have to get some ground sirloin Wed though...

mystery-ak · « **Reply #13 on:** July 30, 2022, 07:02:11 pm »

Kroger Weekly Ad August 3 to August 9, 2022
https://weeklyadflyers.com/kroger-flyer/

libertybele · « **Reply #14 on:** July 30, 2022, 07:02:28 pm »

Quote from: IsailedawayfromFR on July 30, 2022, 06:36:43 pm

Buy beef now while it remains affordable.

It won't be next year.

Well, if need be, we have dehydrated beef...it won't be the same I know, but still, we'll have beef.

libertybele · « **Reply #15 on:** July 30, 2022, 07:06:33 pm »

Quote from: mystery-ak on July 30, 2022, 07:02:11 pm

Kroger Weekly Ad August 3 to August 9, 2022
https://weeklyadflyers.com/kroger-flyer/

It's nice to see grocery ads from a different area. Definitely go for the BOGO meat (pretty hard to pass up). As for that 3rd freezer -- go for it.

mountaineer · « **Reply #16 on:** July 30, 2022, 07:09:13 pm »

Our county Republican party is having a meat raffle for 1/4 cow, a grill and a freezer. We've bought six tickets.

mystery-ak · « **Reply #17 on:** July 30, 2022, 07:12:50 pm »

Quote from: mountaineer on July 30, 2022, 07:09:13 pm

Our county Republican party is having a meat raffle for 1/4 cow, a grill and a freezer. We've bought six tickets.

1/4 cow is a lot for 2 people...good luck!!!

libertybele · « **Reply #18 on:** July 30, 2022, 07:23:42 pm »

Quote from: mountaineer on July 30, 2022, 07:09:13 pm

Our county Republican party is having a meat raffle for 1/4 cow, a grill and a freezer. We've bought six tickets.

How awesome would it be if you won?? I'm hoping that you will win something @mountaineer

roamer_1 · « **Reply #19 on:** July 30, 2022, 07:45:33 pm »

NOTE: Beef prices should NOT surge further with sell-off.

Beef prices should come way down with the glut hitting the market... in about 30 days or so.

If beef prices do not come down, somebody's messin with the market keeping prices up artificially.

Could be it will go back up again through the winter but prices should come down first.

IsailedawayfromFR · « **Reply #20 on:** July 30, 2022, 08:05:51 pm »

Quote from: mystery-ak on July 30, 2022, 07:02:11 pm

Kroger Weekly Ad August 3 to August 9, 2022
https://weeklyadflyers.com/kroger-flyer/

From that ad, I wonder why anyone sane would buy roasted chicken breast for $9.49/lb when you can get fresh Angus Sirloin for $3.99/lb?

Only a few people on this board I can think of would even consider it.

mountaineer · « **Reply #21 on:** July 30, 2022, 08:08:38 pm »

Quote from: IsailedawayfromFR on July 30, 2022, 08:05:51 pm

From that ad, I wonder why anyone sane would buy roasted chicken breast for $9.49/lb when you can get fresh Angus Sirloin for $3.99/lb?

That's deli meat, but it does seem high.

roamer_1 · « **Reply #22 on:** July 30, 2022, 08:10:38 pm »

Quote from: mountaineer on July 30, 2022, 08:08:38 pm

That's deli meat, but it does seem high.

Deli feeeels like 7 bucks a pound to me... With inflation, 9 bucks is probably legit.

roamer_1 · « **Reply #23 on:** July 30, 2022, 08:11:44 pm »

Used to LOVE Turkey Pastrami, because it was only 5 bucks a pound... But I can't find it so easy anymore.

libertybele · « **Reply #24 on:** July 30, 2022, 08:37:55 pm »

Quote from: IsailedawayfromFR on July 30, 2022, 08:05:51 pm

From that ad, I wonder why anyone sane would buy roasted chicken breast for $9.49/lb when you can get fresh Angus Sirloin for $3.99/lb?

Only a few people on this board I can think of would even consider it.

Definitely go for the Angus sirloin!