Cattle prices skyrocket
POSTED: Wednesday, May 9, 2012 - 4:36pm
UPDATED: Wednesday, May 9, 2012 - 4:48pm
The drought last year took a huge toll on Texas farmers and ranchers.
But with more rain and better weather ahead, many of them are starting to build back.
But the market has changed.
There aren’t many cattle for sale out there, and there’s a lot of demand.
Hank Gilbert is a rancher in Whitehouse. And like a lot of Texans in the ag business, he took a big hit last year.
Ranchers face obstacles of drought, weather, beef prices, gas prices, feed prices; all kinds of problems get in their way.
And now he’s building his herd back again but prices are through the roof.
Gilbert says, a year ago, yearlings were worth nearly $550 a head. You can run those yearlings through any sale barn today and they’re going to cost probably between $100 and $1100 apiece.
But the weather gods seem to be smiling on us this year. And that’s the $64,000 question.
Will we be in better shape this summer than last?
As ranchers weigh some very expensive purchases, there simply is no other question.