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Mon May 23, 2011
Good Year Could Be In Store For Ranchers
By Molly Messick
LARAMIE, wyo – High livestock prices are likely to make this a good year for Wyoming ranchers. Chris Bastien is an agricultural economist at the University of Wyoming. He says there is a question about whether high corn prices will cut into profits in a year when cattle prices are at record or near record highs. And he say that question is an especially big one right now, given flooding and wet weather in the Midwest. But for the most part, Wyoming producers should fare well
"Generally it's a very positive picture," says Bastien. "There just is some uncertainty about how high cattle prices are going to be. Overall we've seen record fed cattle prices which is helping improve the price picture for feeder cattle or calves going to market this fall "
Fed cattle are those that have been fed grain on feedlots, while feeder cattle are those that will be grain-finished. Last week, the Federal Reserve said that high crop and livestock prices are driving up farm income, as well as prices for cropland.