When it comes to cattle, ag economists are closely monitoring regional price gaps.
That is why one researcher at the University of Tennessee believes prices could begin to trend lower.
Economist Andrew Griffith says that there is a price gap between cattle in the north and south, and says that it is wider than previous weeks with the south seeing week-over-week price declines. He says that prices could drop, but that would be further down the line.
Griffith says that while prices will soften at some point, he believes it will take a few years.
Livestock analysts with DTN says that they would not be surprised if prices see less season decline this fall.
Prices are stable for bison producers, according to the National Bison Association.
Although they face similar challenges as other livestock sectors, current economic conditions are favorable for them.
According to Jim Matheson, “We have our challenges, but overall our prices are up as supply tightens for market-ready animals quite similar to the situation on the cattle market right now. So, overall we’re doing very well according to the U.S. Department of Agriculture’s monthly Bison Price Report. Our young bulls, which are kind of our prime bulls, are at about $4.25 a pound hanging weight, which is the highest it’s been in probably five or six years.”
He says that young heifers are also up, and he points to strong consumer demand for the steady growth.
