NWFCS: Profitable Returns Expected For Many In Dairy, Cattle
As we continue with our Northwest Farm Credit Services’ quarterly commodity snapshot series, today we focus on the livestock sector. NWFCS Vice President Bill Perry said the 12-month outlook for dairy suggests profitable returns.
“Record milk prices in 2022 have outweighed feed cost increases. Recently, feed prices have been stable and hay prices have come down from highs experienced earlier in the year. Risk management tools can help producers protect profitability from production costs overtaking milk prices.”
When it comes to the beef side, Perry says their cattle outlook suggests slightly profitable returns for cattle feeders and cow calf operators.
“Drought in major cattle producing areas has caused widespread liquidation and feedlot inventories set records twice throughout the summer. A smaller national herd and strong demand will support rising cattle prices in 2023.”
Join us Thursday as we start the back half of our commodity snapshot series by looking at the fisheries and nursery sectors.
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