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Tuesday, July 22, 2014 - 1:30pm

Cattle prices highest in history, price of beef set to increase in 2014

KETK
News

POSTED: Wednesday, January 8, 2014 - 7:43pm

UPDATED: Friday, January 10, 2014 - 10:39pm

Cattle traders rang in the new year with record high prices, and consumers can expect to pay more at the meat counter as a result.

East Texas cattle rancher, Jim Gutherie, has been in the cow business for decades, "The biggest reason why the price of cattle is so high is because of the drought, people liquidated their herds because they just didn't have enough forage, or feed, to keep their cows, " Gutherie said. Cattle raisers were forced to reduced or sell their enitre herd to out-of-state buyers because they simply couldn't afford the high price of feed. Now, restocking their herds is now more expensive than ever. "600 dollars back a couple of years ago was a good price for a calf to take them to the sale barn, now it's more like 1,000 to 1,200 dollars, it's double." Guthrie said.

The supply of cattle is slim as well, the cattle population in Texas is dwindling, "they're just not available, it's supply and demand, trying to find cows to build up a herd," Gutherie said. In the past year Texas has seen a more than five percent decrease in the cattle population, causing a supply squeeze with a steady demand—with a price spike.

All of these factors create a price hike at your local grocer's meat counter. Beef prices in 2014 are expected to be 2.5 to 3.5 percent higher than in years past.

Gutherie says, It's a sellers market, not a buyers; and he doesn't antipipate the prices going down any time soon, "It's going to be several years down the road before the market will start to level off and the number of cows will go up and the beef prices will go down."

If you have questions, comments, or concerns about this story please contact Reporter, Nicole Vowell: NVowell@ketknbc.com

 

 

 

 

 

 

Comments News Comments

suz, you're pathetic...now, on the oil issue, do some homework and find out that the US now produces more oil for domestic use than we import. Man, it must be absolutely depressing to live in such a black world as you do...no light, no sunshine, no joy...just hate, gullibility, and mindless drivel. As for being dependent on other countries for goods, cheap consumers in the US only want cheap goods...and the guys in the glass offices want profits and big paychecks, investors want dividends.

Our family stopped eatiing beef a year ago, Stop eatting red meat as you will live a better life without grilled cow flesh.

Yea right, a big percentage of the beef you buy in the stores does not even come from here, it comes from overseas like the rest of our food, oil, & products. We depend on other countries for everything, that's the biggest reason this country and its people are in the shape we are now. Millions are on unemployment, others are working two & three part time jobs & most people are underpaid due to the economy and prices for everything are sky high. Something has to give soon or its going to get bad

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