September 19, 2014

Drought could hike future beef prices

We could see a jump in the price of beef next year due to this summer’s Midwest drought. Wisconsin Farm Bureau Federation spokesman Casey Langan says the dry weather leads to fewer crops to be processed for animal feed. Rather than having to buy feed for cattle, producers may opt to sell their cows to slaughter early, which means fewer cattle available next year.

Langan says the national beef herd is already at a historic 60 year low, due in large part to the Southern U.S. being hit by drought the past couple of years and farmers there choosing to see off their herds early.