Beef prices in the US market to jump in 2021
A decrease in the number of cattle may lead to a jump in prices in the second half of 2021, warns an analyst at Rabo AgriFinance.
Disruptions to the U.S. beef supply chain could last until early April next year as the second wave of the COVID-19 epidemic hits the country, warned Don Close, senior animal protein analyst at Rabo AgriFinance.
In his opinion, prices will rise in the second half of next year, as a decrease in livestock is expected. “We have a sufficient number of cattle for the first and the beginning of the second quarter (2021). But due to the reduction in the number of heifers in the previous two years, the number of calves born will decrease. As the number of feeder cattle decreases (in 2021), we will face an increase in beef prices in the third and fourth quarters of 2021,” the expert said.
Source: Piginfo