At a breakout session held at the recent Cattle Industry Convention and National Cattlemen’s Beef Association Trade Show, CattleFax predicted strong prices to remain in 2015 due to the improved forage situation, lower grain prices and record margins in 2014 for feeder and stocker cattle, reports AgriMarketing.
Fed cattle prices are expected to average in the mid-$150s, slightly higher than last year. Prices will trade from near $140 to near $170 in the year ahead. Early year highs for 550 pound steers will range from near $285 to lows near $235.
Despite exceptional prices in 2014, CattleFax CEO Randy Blach said he expects the market peak is behind the cattle industry now with some modest expansion in herd numbers now.
“Cow-calf producers will continue to see relatively strong returns over the next four to five years, aided by corn prices expected to average $3.60 per bushel in 2015 and an improved forage production picture,” Blach added.