Now the question is, can it last?
In a few short months, cattle prices have staged a seemingly miraculous comeback. In December, finished cattle were $80/cwt., now they are near $100/cwt. Calves were $1.05/lb., now they are around $1.30/lb.
"Suddenly, owning cattle looks like a stroke of genius," said Purdue University Extension Economist Chris Hurt.
The reasons for the comeback are clear, Hurt said. The world economy continues to recover, feed prices are lower, red meat supplies are down, exports are strong, and retail beef prices have been low. Now the question is, can it last?
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