The beef industry has already experienced a number of
difficult years characterized by falling cow numbers and declining per capita
beef supplies. There was hope in the first-half of this year that this downward
production phase was coming to an end, but the drought of 2012 has erased those
hopes. So, where is the cattle industry today, and what do we know about the
impacts of this year’s drought?
The mid-year Cattle inventory report from USDA
indicated that beef cow numbers had dropped by an additional three percent over
the past year. Since 2006, beef cow numbers have dropped by eight percent due to
much higher feed prices and to the long drought in the Southern Plains. The 2012
calf crop is expected to be down about two percent, and also down eight percent
from 2006. This year’s drought likely means further decreases in cow numbers
over the next 12 to14 months. <Read More>
