High Cattle Prices Bring Mixed Blessing
Laramie, Wy – The price of cattle hit record levels this fall and is still high, but that isn't necessarily good news for all ranchers.
A year ago cattle prices were about 40 cents a pound lower than they are now. The executive vice president of the Wyoming Stockgrowers Association Jim Magagna says this is a mixed blessing because while the higher prices can help ranchers recover from the drought for those who want to rebuild their herds right now they have to buy cattle at the high prices.
Magagna says he's confident ranchers will be able to build their herds back up, he just says it may take a while.