US Drought Could Trigger Higher Beef Prices
As grazing lands dry up, cattlemen sell more livestock
October 28, 2011
Beef prices may be headed upward due to a severe, lingering drought in the southern United States which is putting a major financial squeeze on the region’s cattle producers
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Across Texas cattle country, livestock auctions have been unusually busy. As grazing lands dried up, cattlemen have been selling their livestock earlier in the season and at a younger age than normal.
Worst in decades
"It's been tough," says Amarillo-area rancher Ashley Nolan. "We've sold pretty much all of our herd throughout the summer little by little waiting on the rain, and it never came. The well dried up."
In fact, just one-fifth the normal amount of rain and snow have fallen this year in the north Texas ranching communities in the Texas Panhandle.
The drought has raised the price of every type of cattle feed, including "gin trash," unwanted parts of the cotton plant produced as a by-product of the region's many cotton gins.
Rancher Rick Kellison says it's the worst he's ever seen. "I was arrogant enough to say I'd been through some droughts before. I'm over 60. I hadn't."
The drought has forced Kellison to cut his herd nearly in half. As grazing land has dried up, hay prices have shot up to five times their normal price. That has Kellison looking for alternatives.
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