I think you all have summed it up pretty well. I do not believe we are close to the bottom yet in the fed cattle market or with feeder calves. The next couple years will be recovery years for cattle feeders, who lost a lot of equity in the recent downturn, so they will be reluctant to bid up feeder calves. I think more heifer calves are still being held back to breed, only adding to the over supply of cattle. Coupled with high numbers of cheaper hogs and chicken, it would take a large shift in beef demand to turn things around in the short term. China will be buying more of our beef, which helps, but we still are in the downward swing of the cattle cycle, and that takes several years to move the other way. I look at it as a positive thing to a point, as I can add more replacement heifers to my herd at a much lower cost than a few years ago. I envision $0.75-0.80 fat cattle and 500# calves around $1.10-1.25 for a little while anyway...
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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