A livestock “mini-boom” could last for several years

Livestock producers can anticipate strong returns in coming years in a “mini-boom” that could last for several years, says Purdue economist Chris Hurt in a university news release. Feed prices are lowest in years and market prices are record-high for cattle, hogs, poultry and dairy. “If the years from 2007 to 2013 could be described as the ‘Grain Era,’ in which crop sector incomes had an extraordinary run, the coming period may be described as the ‘Animal Era,’ when producers of animal products have strong returns,” Hurt said in the release. He says there is pent-up consumer demand for meat that will sustain the livestock industry as it expands production.

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