Idaho's top five ag commodities set record highs for value of production.

Progressive Cattle Editor Carrie Veselka visits with Texas A&M AgriLife Extension Ag Economist David Anderson and Rick Machen with the King Ranch Institute for Ranch Management at the 2023 Texas A&M Beef Cattle Short Course.

The USDA released its monthly Cattle on Feed report on June 23, indicating a 3% decrease from year-ago levels. On feedlots with more than 1,000 head of capacity, 11.6 million cattle are on feed for slaughter in the U.S. Feedlot placements for the month of May totaled 1.96 million head, up 5% from 2022, with net placements at 1.88 million head.

April’s beef exports were 10% below last year’s levels, while value fell 18%.

If passed, the DIRECT Act would allow for beef, pork and poultry producers to sell their products through e-commerce across state lines – without the current regulation of going through a USDA-inspected facility. Instead, the act would only require producers to follow state inspection programs.

Recent banking stress already includes reduced lending from commercial and community banks. With deposits being drawn down, it will be difficult for banks to lend aggressively in this environment, creating a significant headwind to economic growth.