Feeder-calf prices could hold in the mid-$90s at the lows if exports are back to 2.5 billion lbs. and corn prices remain in check. If exports fail to grow, prices will trend lower.
It's imperative that beef exports grow substantially during the next three years in order to keep supplies from becoming burdensome. If the U.S. fails to recapture lost export market share during the remainder of this decade, prices could suffer as a result.