Some not-so-good news for those that enjoy eating beef. The smallest cattle herd in decades means record beef prices may be on the way to grocery stores soon. Farm Bureau Economist Baird Nelson says drought and higher input prices have caused farmers and ranchers to cut back their herd size, but feedlot numbers are strong and that means stable prices….for now:
Nationally, the overall herd size is the lowest it’s been in 73 years. How do we fix it? Nelson says we need rain this year and next to reverse what brought on the conditions in the first place. Until then, expect to pay more for beef at the grocery store.
