Cattle market on the rise

ARDMORE -- While recent heavy rains have caused some serious damage, they also provided some much needed relief for cattle producers hit by last year's drought.

Late last summer, the lack of rain forced many cattle producers out of business. Hay prices were so high they couldn't afford to feed their animals.

But now things are looking up for those who stuck it out.

That's the news fifty-plus producers came to hear today at the Noble Foundation's Annual Livestock School.

The cattle market was just one of the many topics experts touched on, but perhaps one of the most crucial.

Economists say the price of producing calves seemed to hold steady this week, but those numbers could be on the rise.

In our area the corn market drives the cattle market. Economists say the nation's corn producers planted a record number of acres last week, which works in rancher's favor.

Agricultural economist Dan Childs thinks the cattle market is on the rise.

β€œIt looks like going to make enough hay to stop slaughter, increase replacement animals instead of selling for lack of grass."

The news may not be quite as good for consumers. Once the price of cattle goes up, that means you'll be paying more for your hamburger or steak at the grocery store.

Economists are still telling producers to remain cautious if they plan to increase their herd-- do so gradually.

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