January 2, 2013
US cattle prices increase by 40% in 2012
The drought conditions of 2012 have sparked a cattle shortage, which in turn has caused price inflations between 30%- 40% higher than 2011.
The summer's lack of moisture made ranching difficult and contributed to a severe lack of hay and other feed sources. As hay prices skyrocketed, some ranchers sold off livestock as there wasn't enough feed to keep them through the winter.
Brett Loughlin, a field man at the Belle Fourche (foosh) Livestock Exchange, says beef demand and exports are good. Feeder cattle at the sale barn are up roughly US$10 to US$20-per-hundred pounds higher than in the past few years.
