FCC chief economist JP Gervais says it’s an interesting time in the ag markets right now.
He points out that a key factor overall right now is the high-interest rates, something he doesn’t expect to see change anytime soon.
If you look at cattle right now, producers have seen a pretty good run in prices.
Gervais says in the cattle sector it’s been about the declining size of the herd that’s been driving up the prices that we have right now, coupled with a surprisingly strong demand domestically.
Fed cattle prices are a little bit more stable, and feeder cattle prices are still on a positive run.