Ranching Future Bright?
Laramie, Wy – There are indications that the U-S cattle
industry is entering an expansion phase.
But University of Wyoming Ag Marketing Specialist Chris Bastian
says he expects prices probably will remain strong for at least the
next two years.
Beef prices have been among the highest in recent memory.
He says slaughter steer and slaughter heifer prices will probably remain at about last year's levels.
Calf prices also should remain solid, although Bastian estimated
they would be eight to 12 percent below the record levels seen in 2004.
Jim Magagna of the Wyoming Stock Growers Association detects a cautious attitude among many ranchers who reduced their herds due to the ongoing drought.
He says one problem is that the cost of buying replacement cattle is high right now.