Fewer hogs, along with a recent rally in cattle prices, is likely to continue upward price pressure for both livestock and meat prices, recent reports show.
The likelihood of the first profitable year for livestock producers since 2007 will help farm incomes rise by an average of 10% this year, USDA said.
Consumers so far have seen only single-digit increases in meat prices, according to the USDA, despite price increases for live cattle and hogs and finished cuts of meat. Analysts said demand for beef, which lagged in 2009 under the weight of the poor economy, is picking up.
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From your perspective, how is 2010 looking for you? Do you forecast a positive year for beef producers? Are things finally turning around for the better? Weigh in today.