40th annual Beef Cattle Conference informs cattle producers how to manage profitability
'Our goal is to give them the information they need to make their decisions this year. And they have a lot to choose from as to how they manage their herd and how they market the herd. And so those are some of the topics that we're giving them information on,' Conference Host & Chair Doug Mayo said.
One economist predicts 2025 to be a year of stabilization for overall cattle numbers.
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'What my presentation was about was stabilizing our inventory levels, stabilizing, expanding, and all that efforts play a big role in that because we're going to as when we start about when we start thinking about rebuilding, a big sign of that is going to be heifer retention,' UF/IFAS Cattle and Forage Economist Hannah Baker said.
Baker says cattle inventory is extremely low compared to years past.
'We just don't have the supplies that we've had in previous years. We're actually the lowest we've been since like the 1950s and sixties. So that's definitely influencing prices with a low supply and a high demand. You're going to have those skyrocketing prices,' Baker said.
But that's not exactly a negative. Baker says the forecast for cow cattle producers across the nation is really positive for the next couple of years.
'Because we are so low in inventory and it's as high prices are expected to stay for the next several years. So it's really positive outlook for cow-calf producers. But there's also a lot of risk with that. So it's important to explore some risk management strategies and just make sure you're making profitable decisions on your operation,' Baker said.
Baker says they will be watching to see if the new administration goes through with placing tariffs on our allies.
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'But I think the focus on the tariffs is more on the production input prices. So like for example, we import about 80 to 90% of our potash from Canada. So if their tariffs are implemented and are put into place, it'll definitely influence the prices of like mixed fertilizer, that's made with potash' Baker added.
Baker says if the Trump administration follows through with those tariffs it could encourage consumers to buy more American beef products, but that the U.S. does import lots of beef products to keep up with demand.
She says prices will shoot up regardless, if there's not enough product to meet demands and while it's an important conversation to be had, we still don't know if those tariffs will actually be enacted.
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