TYLER, TX (KLTV) - A strong domestic economy and booming exports have boosted beef and cattle prices against near record U.S beef production.
The U.S. beef cattle sector is now well into the cycle moving from aggressive herd expansion to slow growth.
U.S beef production this calendar year is projected at 27.1 billion pounds which is an increase of 3.3 percent year-over-year.
There are potential headwinds for cattle markets during the next few years. One is meat exports, which are expected to falter under a cycle of tariffs and retaliation.
According to the Texas A&M AgriLife Extension Center in Overton, if recent trends persist, 2020 could mark the end of the current U.S cattle inventory build-up.
If the economy is still growing then, and export markets do not deteriorate, expect modest year-over-year gains in prices forecast during that year.
For the latest local Ag news... Click over to ETXAgNews.com.