New South Wales cattle Producer John Carter writes:
“I have just returned from a brief visit to the USA where I attended and was a key note speaker at R-CALF USA’s 3 day annual conference held in Omaha Nebraska. I participated and spoke as a representative of the Australian Beef Association (ABA). This is the 1st of a 3 article series on matters of interest to Australian farmers.”
Leading US Cattle Futures Trader Predicts “Boom Times”.
Over three days of the conference I heard some great presentations, but possibly none of more interest to Australian cattle producers than that of respected Cattle Futures trader Charles McVean (pictured below) of McVean Trading Company Memphis Tennessee.
The McVean trading company is a leading US agricultural commodities broker with 75 staff and offices in Tennessee, Alabama, Texas and Iowa.
Mr McVean said “Barring a full collapse of the US economy he sees the shortest cattle supply and the highest real cattle prices since 1973 starting in July this year.”
McVean sees this happening as the US herd is (contrary to the United States Department of Agriculture forecasts) still falling fast due to the droughts and debt.
He doesn’t see a US herd rebuild in sight due to land going to other uses on a huge scale (mainly due to the US Ethanol rebates).
Mr McVean said “We are looking at the most positive outlook for beef prices for 35 years!”
For those of you who don’t know R-CALF USA (Ranchers-Cattlemen Action Legal Fund, United Stockgrowers of America) is an independent organization that represents cattle producers across 47 states of the USA. The Australian Beef Association is it’s “sister” organization in Australia.