NWFC: Cattle Should See Profits Same, Can’t Be Said For Dairy
We’ve hit the halfway point of our series on Northwest Farm Credit Services’ 4th quarter snapshot of local commodities, and today we focus on cattle and dairy. NWFCS Vice President Karen Witt said as foreign demand increases, they foresee slightly profitable results throughout the beef industry.
“However, record cattle on feed inventory is expected to pressure feeder cattle prices and feeder margins lower. Dairies breeding with cheaper beef semen will add headwinds to producer profitability.”
Witt said the same can’t be said for the dairy industry which is expected to be slightly unprofitable.
“Futures markets suggest unprofitable prices through the first half of 2019 with increasing prices into the third quarter. Class IV milk prices appear positive as butter and powder inventories shrink. New farm bill policies favor small dairies while new crop insurance policies benefit all producers.”
Join us Thursday as we turn out attention to grapes and cherries.
If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekradio.com
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