Beef Producers Adjusting to Lower Prices

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Beef prices are on the decline after several years of record highs.

“We likely peaked last year,” Tim Petry, livestock marketing economist for the North Dakota State University Extension Service, told producers last week during the annual North Dakota Stockmen's Association Convention in Bismarck. “This year, we're probably back to what I would call a more normal situation.”

Last year, prices for calves in the 600 to 700-pound range reached a high of $2.60 per pound. For those in the 400 to 500-pound range, it peaked just above $3 per pound.

Petry expects prices to be about 20 percent less this year compared to last and predicts prices will continue to drop 15 percent each year if market conditions continue. While beef cattle production remains profitable, ranchers won't enjoy the same windfall experienced last year.

“Some are feeling a little bad, but it's still our second highest ever,” he said.

 

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Source:  The Bismarck Tribune

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