Home / Business and Economy / US Cattle Shrink: Beef Prices Soar Amidst Rancher Squeeze
US Cattle Shrink: Beef Prices Soar Amidst Rancher Squeeze
22 Nov
Summary
- America's cattle herd is at its lowest size in decades.
- Beef prices have significantly increased this year.
- Consolidation in the meatpacking industry impacts ranchers.
America's cattle herd is currently at its smallest size in decades, a development that has led to soaring beef prices this year. Hamburgers and steaks have become central to political discussions surrounding the rising cost of food. This episode delves into the underlying causes of this diminished domestic beef supply.
The situation is exacerbated by several factors, including severe drought conditions affecting grazing lands and a sharp increase in the cost of animal feed. These environmental and economic pressures are making it increasingly difficult for ranchers to maintain their herds. The conversation also touches upon the long-term consequences of consolidation within the meatpacking industry.
Bill Bullard, CEO of R-CALF USA, an organization representing independent cattle ranchers, discusses the forces that are shrinking the American cattle industry. He offers insights into potential solutions that could help stabilize the market and support ranchers.
