Mike Breaux packages ribeye steaks Thursday at the D&R Market on the eastside of Lafayette. He says he's yet to see a significant shift in prices. / By Brent Drinkut/Journal & Courier
By the numbers
$310 - expected increase in hay prices this year over last year’s prices
10% - high-end projection for beef price increases
2016 - the year when a larger cattle yield is expected
With each passing week, farmers and ranchers search for new ways to adjust to the ongoing drought. Food experts say consumers should be ready to adjust, too.
“Beef cattle producers are in a really tough position this year because both grain and hay are in extremely expensive price ranges and short supply,” said Corrine Alexander, associate professor of agricultural economics at Purdue University.
For example, Alexander said hay usually costs $80 to $90 per ton. This year she has seen prices of $300 to $400 per ton.
With corn and hay prices skyrocketing and pastures dried up by drought, some cattle producers are selling off herds.
Copyright © 2024 www.jconline.com