Cattle and calves historically have represented about 20% of farm cash receipts, and peaked at 24% during the years of 1997 and 1998. Meanwhile, corn and soybeans represented 14% of total cash receipts. In 2007, cattle and calves fell below 20% of farm cash receipts for the first time. Since then, cattle and calves have hovered at about 17%, while corn and soybeans have represented about one-fourth of total cash receipts. That’s a significant shift in the relative contribution to cash farm revenue over time.
What impact do you think this might have on diversified operations and the subsequent investment in the beef industry’s infrastructure going forward? Leave your thoughts in the comments section below.