With U.S. beef cattle numbers dropping to their lowest levels in several decades, many producers are looking to expand their cattle herds. However, ag economists are expecting a relatively gradual expansion as the industry still faces headwinds from ongoing forage limitations due to drought and financial obstacles such as higher interest rates.
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Cattle industry looks to expand if conditions allow
Total beef cattle numbers are at their lowest since the 1950s. Ongoing drought concerns, financial considerations, and strong heifer presence in feedlots last year likely mean any expansion will be gradual.
