Source: AgriLife Today
Cattle inventory across the U.S. will continue to expand and that will likely keep prices in moderation through 2017, according to Dr. Jason Johnson, a Texas A&M AgriLife Extension Service economist in Stephenville, Texas.
Johnson said there are export trade opportunities that will help market the excess beef. Japan, Canada, Mexico and South Korea are the current top U.S. export markets. With a new presidential administration, there could be further trade opportunities for beef.
Overall, steer prices in 2017 for 500- to 600-pound feeders will be $127-$132 per hundredweight in the first quarter, $131-$138 per hundredweight for the second quarter, $127-132 per hundredweight for the third quarter, and $122-$132 per hundredweight for the fourth quarter, AgriLife Extension livestock economists project.
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