Ranchers and producers are pleased about the 'beef-up' in prices - KOTA Territory News

Ranchers and producers are pleased about the 'beef-up' in prices

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 Severe drought conditions in the United States have resulted in fewer cattle coming to market, and an increase in beef prices.

Beef prices are at a record high in Wyoming, and it's looking good for local producers and cattlemen at the Buffalo Livestock Auction.  "They're very high. The market has steadily gone up in the last year and we don't know whether it's reached the top or not, but it's gotten very good," said Jay Godley, Buffalo Livestock Auction owner. 

According to the Wyoming Beef Council,  prices are up to due a decrease in supply without equivalent demand for beef. The demand for beef always picks up this time of year because the warmer weather promotes grilling.

Livestock order buyer Travis Wilkie says that droughts have contributed greatly to the low supply.  "The droughts in different areas, its kind of come to a head. Numbers are down further than what they would have been in the past," Wilkie said.  Some of  his clients have to pay more money at auctions than expected or stop buying altogether.    "The game of feeding cattle has gotten more expensive. In some cases you're looking at $300-$500 a head difference from one year to the next which is pretty significant," Wilkie said.

Although the spike isn't good for consumers and the packing industry, it's great for producers and cattlemen.  "It's nice for our producers. They've needed a chance to make some decent money over the last couple years and right now we're on a market live we've never had before," rancher Bob Herman said.

"We hope they continue to stay good at that people in the ranching community can continue to profit," Wilkie added. Ranchers and producers will be awaiting the next livestock auction in Buffalo to see whether the increase holds steady. 


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