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Demand remains vital to livestock production

Livestock production continues to push record levels and a livestock economist says demand has to remain strong to prevent prices from tumbling. 

Despite concerns about consumer demand, University of Missouri’s Scott Brown says retail prices have been strong.  “The retail beef price was higher for the fifth consecutive month in May,” he says.  “It average $6.17 per pound.  That’s the highest monthly average since 2017.”

He tells Brownfield the global demand picture is one of the factors that has been supportive to prices.

But says the last thing the livestock sector needs is for the economic situation in the US or in other places to move lower.  “That could be troubling for us,” he says. 

Brown says the USDA has projected increased exports in pork exports for 2019 – which he says is also good news for pork prices.