Tight beef supplies and strong demand pushed 2014 beef and cattle prices record high. It's likely not over, either.

The 1.4% uptick in cattle on feed Dec. 1 reflects feedlots holding cattle longer to feed them to heavier weights. A smaller 2014 calf crop and cow-calf producers retaining more heifers to expand breeding herds will further tighten beef supply. Lower production should support beef, fed cattle and feeder cattle prices.

To read more about beef demand, click here.

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