Livestock economist cautiously optimistic heading into 2021
The decline in cattle placements in 2020 has a livestock economic cautiously optimistic about 2021. University of Missouri’s Scott Brown says there were nearly a million less calves placed in feedyards this year.
“To me that’s some good news as we think about 2021,” he says. “That’s fewer finished cattle to deal with. And another reason, you take the combination of weights getting back closer to year-ago levels and less placements and we could have a much different situation in terms of beef supplies.”
And, he tells Brownfield he’s optimistic about demand in 2021. “We get these restaurants to open back up post-COVID, summer of 2021, and I’m not saying we couldn’t have some positive or really positive outcomes form all of that,” he says.
Overall, Brown says the November Cattle on Feed report was in-line with pre-report estimates.
AUDIO: University of Missouri’s Scott Brown