Given the past year for livestock producers, particularly hog producers, analysts temper their outlooks with caution, but point to signs of a better year in 2010, reports Meatingplace.com.
"This year is shaping up to be one of the best years for livestock and poultry producers in several years, but this will depend on healthy demand supported by a recovering economy," John Anderson, Mississippi State University extension livestock economist, told participants at the American Farm Bureau Federation's 91st annual meeting.
Anderson pointed to reduced pork, beef and poultry production in 2009 and some signs of improved demand. He also predicted improved producer profit margins as feed grain prices, while still high, have stabilized somewhat in recent months.
Similarly, today's CME Group Daily Livestock Report pointed to strong domestic and export pork sales supporting prices, but also warned about the uncertainty of U.S beef, pork and poultry exports in certain markets. Russia and Taiwan have recently imposed various restrictions.