October 15, 2003
US' Nebraska See Uphill Surge in Cattle Prices
In the United States, Nebraska's cattle prices soar to their highest levels since a decade ago. Cattle producers are finally enjoying some good times again. Greg Ruehle, executive vice president of the Nebraska Cattlemen said, "It's phenomenal."
In general, cattle ranchers consider 75 cents a pound a fair price when they sell their fed cattle. In July 2002, that price was around 60 cents. But now, some producers are getting more than a $1.10 a pound, which equates to an 83% increase in a little more than year.
Gregg Doud, an economist with the National Cattlemen's Beef Association, said the market shows no signs of cooling down anytime soon.