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| Rebuilding the US cow herd (to previous levels or even close) isn't going to happen. For a list of reasons previously discussed at length. Spending money on breeding stock is a lot more palatable when culls are bringing record prices. Time will tell how much increasing imports affect that market. But as the price of breeding animals go up and weigh cow prices start retreating, that gap adds more and more to the depreciation cost to (declining) calf prices. That alone can get someone upside down pretty fast. And I have little confidence today's breed by numbers genetics are going to produce cows that have calves into their teens, which is how you beat depreciation costs in cows. Either that or turning them over at a young age. | |
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Trump heifers
