To say that this year was a rollercoaster in the livestock industry is an understatement. From policy changes to fluctuations in market prices and input costs, it felt like the entire marketplace could change course from week to week. Iowa Farm Bureau Economist Christopher Pudenz said feeder cattle saw a strong year, but the margins will become much tighter for 2024.
On the other hand, Pudenz said that 2024 could be a great year for cow-calf operations.
Unfortunately, the pork industry is not so optimistic. In fact, Pudenz said that some producers are calling 2023 the worst year since the hog market crash in 1998.
Pudenz said that Prop 12 acted like a wet blanket that halted any potential momentum in the pork markets.
Going back to the cattle markets, Pudenz said that there is a light at the end of the tunnel for cow-calf producers who can hunker down and weather the storm.
Since a lot of 2024 might involve getting through some tough times, Pudenz offered some advice on how to do so effectively.
For more information, visit iowafarmbureau.com.
