Cattle and beef prices are expected to increase this year.

After years of massive beef cattle liquidation, the U.S is finally getting into tighter supplies this year, setting the stage for higher prices.

“Last year, we still had record beef supplies because we were liquidating so many cows and with the drought we were pulling a lot of feeder cattle and calf supplies forward,” said Kevin Good, CattleFax vice president of industry relations and analysis.

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