Indiana livestock producers are keeping a close eye on feed costs as cattle prices continue to climb heading into the summer grilling season.
Brian Shuter Executive Vice President for the Indiana Beef Cattle Association says strong consumer demand for beef and tight cattle supplies are helping push prices to historically high levels across much of the country.
He says, “We spent a lot of time over the years working with our checkoff dollars to find ways to increase demand for beef. Today, we’re seeing that demand continue to stay strong and support these good cattle prices that we’re seeing now.”
While grain prices have eased somewhat from recent highs, many farmers say volatility in commodity markets still creates uncertainty when planning for the months ahead.
Shuter continued, “A lot of our producers in Indiana are diversified. They’re also corn and beans. And those enterprises are not quite as favorable as the beef industry right now. So a lot of producers are depending upon the income from these cattle operations to keep their operations viable.”
Shuter says strong cattle markets are providing an opportunity for producers to recover from several difficult years marked by drought, inflation, and higher operating expenses. Retail beef demand also tends to increase as warmer weather arrives and families fire up their grills for holidays and summer gatherings.
“It’s critical to our industry to maintain that desire to be the center of the plate attraction for those parties and those grilling sessions.” Shuter concluded.
Much will depend on weather conditions and crop development this growing season, which could influence feed availability and prices later this year.
