As we continue with your Northwest Farm Credit Services quarterly commodity snapshot series, we look today at the livestock industries. Bill Perry, Vice President at NWFCS said their 12-month outlook for Northwest dairy suggests slightly profitable returns.
“Profitability will depend on milk destination and producers’ mailbox milk price. Milk price future contracts began increasing during the third quarter of 2021. Dairies actively managing risk and breakeven costs will be able to lock in prices at or above breakeven.”
And when it comes to the beef industry:
“The 12-month outlook suggests slightly profitable returns for cow/calf producers. Cow/calf producers will face higher feed costs associated with the calves born in 2022. Gradually moderating feed costs in 2022 and stronger fed cattle prices will provide tailwinds to feeder cattle profitability into 2023.”
Join us Friday as we wrap up your week taking a look at Northwest Farm Credits expectations for area row crops.
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