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Ranchers contend with high prices while hoping to restock
By The Associated Press Tuesday, August 09, 2005
CHEYENNE, Wyo. (AP) -- Ranchers recovering after five years of drought have had a hard time restocking their herds because of high cattle prices.
One rancher, Taylor Haynes, began culling his herds in 2000 because there wasn't enough grass or hay. He got rid of more cattle as the drought dragged on.
Now, after two relatively wet years, he has more grass than animals to eat it. "And cattle prices are at record highs," he said.
The ban on Canadian beef imports due to mad cow disease and increased consumer demand for beef have driven up prices just when ranchers need more cattle, according to Jim Magagna, executive vice president of the Wyoming Stock Growers Association.
Ranchers are wary of buying at high prices.
"While ranchers have a lot of grass this year and they're wanting to harvest that grass, most of the ranchers are being a little cautious," Magagna said. "They know grass is good this year, but we're not necessarily out of drought cycle."
Haynes was concerned that prices could drop. "It's anybody's guess what to do."
Wyoming herds shrank by 13 percent during the drought, dropping from 1.55 million head in January 2001 to 1.35 million in January 2005, according to Dick Coulter, director of the Wyoming field office of the National Agricultural Statistics Service.
Cattle numbers have held steady the past two years, suggesting to Coulter that ranchers statewide have been slow to restock. "They really aren't rebuilding very fast at this point," he said. "A lot of that is prices."
By The Associated Press Tuesday, August 09, 2005
CHEYENNE, Wyo. (AP) -- Ranchers recovering after five years of drought have had a hard time restocking their herds because of high cattle prices.
One rancher, Taylor Haynes, began culling his herds in 2000 because there wasn't enough grass or hay. He got rid of more cattle as the drought dragged on.
Now, after two relatively wet years, he has more grass than animals to eat it. "And cattle prices are at record highs," he said.
The ban on Canadian beef imports due to mad cow disease and increased consumer demand for beef have driven up prices just when ranchers need more cattle, according to Jim Magagna, executive vice president of the Wyoming Stock Growers Association.
Ranchers are wary of buying at high prices.
"While ranchers have a lot of grass this year and they're wanting to harvest that grass, most of the ranchers are being a little cautious," Magagna said. "They know grass is good this year, but we're not necessarily out of drought cycle."
Haynes was concerned that prices could drop. "It's anybody's guess what to do."
Wyoming herds shrank by 13 percent during the drought, dropping from 1.55 million head in January 2001 to 1.35 million in January 2005, according to Dick Coulter, director of the Wyoming field office of the National Agricultural Statistics Service.
Cattle numbers have held steady the past two years, suggesting to Coulter that ranchers statewide have been slow to restock. "They really aren't rebuilding very fast at this point," he said. "A lot of that is prices."
