Brace For Even Higher Beef Prices As Texas Cattle Industry Faces Historic Drought Crisis
Ranchers across Texas continue to panic sell cattle herds as the worst megadrought in 1,200 years makes it too expensive to sustain operations.
“We’ll keep selling cows till it rains,” Texas High Plains rancher Jim Ferguson told Amarillo station KAMR, which collaborated with The Hill on the expanding cattle crisis in the state.
America’s cattle heartland has seen pastures turn to dust, and costs for feed, fertilizer, and diesel skyrocket, threatening an entire industry that is essential to the nation’s beef supply.
The Hill said that the devastating drought and higher cattle operation costs would result in higher beef prices for at least the next two years. And we agree with that assessment as the latest data via USDA shows supermarket prices surged to record highs earlier this year and are quickly approaching the $5 handle.
“The lack of water in general, it’s hurting us all the way around. Any way you can think of,” cattle buyer Josh Sturgeon said. – READ MORE
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