ANALYSIS - Amid record show attendance, Forrest Roberts, CEO National Cattlemen's Association, said US cattle farmers and ranchers are very optimistic due to more moisture coming back into some areas of the US and higher cash cattle prices.
Mr. Roberts said NCBA sees a lot of signals to indicate that beef producers are starting to expand their herds.
Currently, the US has about 29 million beef cows which is the lowest level since the early 1950s. However, Mr. Roberts sees an opportunity to add 4 to 4.5 million beef cows into the market without changing price margin.
Demand in North America and the exceptional demand being seen globally due to the rapidly growing middle class offers a huge opportunity for the beef market.
Forrest Roberts, NCBA CEO, speaks exclusively to TheCattleSite.com about what he heard from farmers and ranchers at the recent NCBA conference.