Future demand for grain in both the export market and U.S. livestock feeding sector should offer farmers profitable opportunities, according to a Texas A&M AgriLife Extension Service economist.
A special AgriLife Extension outlook program was recently hosted by the department of agricultural economics at Texas A&M prior to the Texas A&M-Alabama football game. AgriLife Extension economists provided updates on several agricultural commodities.
Dr. Mark Welch, AgriLife Extension grains marketing economist, said that through the years there has been amazing growth in grain consumption. That momentum doesn’t appear to be changing, he said.
Even though biofuel growth has leveled, Welch said the livestock and export markets are poised for expected growth in the coming years. That’s due to a rebound in U.S. cattle inventories at numbers not seen since the 1950s as herd rebuilding will begin if drought conditions lift, and the expected growth in China develops.
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