The other day I saw something on social media that was some bad news for ranchers. Beef prices are to remain low through 2019. Wanting to be a rancher this caught my eye, and I wondered how are ranchers going to make it? Other questions raced through my mind like "Do I really want to do this when I get older?" and I have not found the answer yet. Considering I graduate in 2020, which is after 2019, hopefully we will see an upward trend in beef prices, and hopefully raising cattle will be a sustainable way to make a living.
The main reason for the decline in prices is due to a quick herd expansion after years of prolonged drought according to the Texas farm bureau. The USDA projects beef production will rise 5.2% this year and will climb 3.4% in 2017. "The meat sector is expanding across the cattle, hog and chicken industries, putting the U.S. on track for a year of record meat production and declining prices." says the Texas Farm bureau. Texas Farm Bureau on Beef prices
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