Mike Pearson examines the state of the cattle industry here in the USA.
After 3 years of drought and high feed prices, many cattle producers have thrown in the towel and the cattle herd has reduced to 28.9 million head– the smallest herd in 61 years.
Consumers have been flush with cash and willing to use it to eat well pushing prices into record territory this summer.
The last time prices were this high were at the end of the last cattle cycle– October 2014— when prices were $1.68 per pound.
Prices per pound for cattle hit $1.84 in September 2023 but the prices have started ot fall.
Both…
