DAYTON, Ohio (WDTN) — New data from the USDA shows that the U.S. cattle herd is shrinking, tightening supply nationwide at a time when demand is higher than ever.
A recipe for higher beef prices: A strong demand for beef, but fewer cattle to supply for it. That imbalance is why some ag experts say prices are high for everyone.
“We’re in a unique situation right now,” said Garth Ruff, a beef cattle field specialist. “Certainly the cow herds, as small as it’s been in a number of decades, and prices are as strong as they’ve been in a number of decades.”
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According to the latest USDA cattle inventory report, there are just over 27 million beef cows nationwide, down one percent from last year.
“That’s the lowest number of beef cows we’ve had in the U.S since going back in the early 1950s,” said Ruff…