Page 3 - MWC 2-24-2022s

The Midwest Cattleman · February 24, 2022 · P3

February 24, 2022 Volume 28 No. 2

JUDGE BLOCKS BIDEN MEASURE FOR BEEF EXPORTS EXCEED $10 BILLION
CALCULATING CLIMATE RISKS, INCLUDING By Greg Henderson
AGRICULTURE IMPACT For the first time, U.S. Meat Export Federation
By Nichola Groom beef exports have exceeded (USMEF).
A federal judge recently $10 billion in sales, shatter- In December, beef exports
blocked for now the Biden ing the previous record by totaled 121,429 metric tons,
administration from restor- 27%. Pork exports finished continued on page 12
ing Obama-era values for cal- slightly below the record
culating the cost of climate volume reached in 2020 but
change in the government's set a new value record, top-
permitting, investment and The "social cost of greenhouse gases" esti- ping $8 billion for the first
regulatory decisions. mate is used in rule-making and permit- time.
The preliminary ruling by ting processes to estimate economic dam- Those eye-popping num-
a U.S. District Court judge in ages associated with a rise in greenhouse bers come from the year-
gas emissions. Those could include things
Louisiana is a blow to Pres- like impacts to agricultural productivity end data released by USDA
ident Joe Biden's efforts to or property damage from increased flood and compiled by the U.S.
risk.
factor the risks of climate
change into federal deci- climate change. Last month, a CATTLEFAX GIVES ANNUAL MARKET OUTLOOK
sion-making. federal judge invalidated the
It is also the latest in a results of an oil and gas lease During its Industry Out- Good did report U.S. beef
string of court decisions that sale in the Gulf of Mexico look Session held recently at cow inventories have fallen
have both stymied and af- that the administration only the Cattle Industry Conven- more than 700,000 head from
firmed Biden's efforts to fight held because of a separate tion in Houston, TX, Cattle- last year and are off nearly

continued on page 10 Fax indicated although issues 1.6 million from cycle highs.
around labor and packing This year, the beef cowherd
BEEF CATTLE NUMBERS CONTINUE TO DECLINE capacity have lingered, both will near 30.1 million head.
By Kenny Burdine, Livestock Marketing Specialist, University of Kentucky are expected to improve in “Drought, market vola-
the year ahead. Analysts said tility and processing capac-
USDA-NASS recently re- slightly larger decrease than expansion in capacity, cou- ity challenges affected 30%
leased their January 1, 2022, pre-report estimates. As an pled with strong global and to 40% of the cowherd over
cattle inventory estimates. economist in a predominant- domestic beef demand, sug- the last year. Without an im-
Beef cow slaughter was sig- ly feeder cattle state, I tend gests increased profitability provement in weather and
nificantly higher in 2021, so to pay more attention to the across segments, signaling a profitability, at least 250,000
expectations were for con- number of beef cows in the market that is healthier and more head will be liquidated
tinued contraction of cattle US, which was down by about more stable in 2022. in 2022,” Good said.
inventory. The USDA report 2% as well. CattleFax Vice President Projections are the feeder
confirmed that and provided An important note to the of Industry Relations and cattle and calf supply will be
some perspective on the mag- report was that the January Analysis Kevin Good fore- 675,000 head smaller than
nitude of these decreases. 1, 2021, beef cow inventory casted the average 2022 fed last year, with the number of
Total cattle and calves were estimate was revised down- steer price at $140/cwt., up fed cattle processed declining
down by 2%, which was a ward by about 1%. Perhaps $18/cwt. from 2021. The 800 400,000 head. Additionally,
continued on page 10 lb. steer price is projected to Good said commercial beef
average $172/cwt., with 550 production will contract over
CATTLE MARKET OUTLOOK BRIGHT DESPITE lb. steers bringing an aver- the next several years, start-
RISING INPUT COSTS age of $205/cwt. Finally, util- ing with a 2% decline this
ity cows are expected to aver- year.
By Garth Ruff, OSU Extension Beef Cattle Field Specialist age $75/cwt., with bred cows
Dr. Andrew Griffith, Asso- the University of Tennessee, averaging $1,850 per head. KLA
ciate Professor of Agriculture recently addressed supply,
and Resource Economics at demand, and market projec-
tions as well as some insight Coming Sales-38
to supply chain disruptions, Life is Simple-5
input costs, and beef indus- Market Report-8
try trends. Agribusiness
This article will highlight
some of the main points of Directory-36
Dr. Griffith’s presentation.

continued on page 12