The price that beef producers charge for their meat reached an all-time high of a $1.50 per pound in Oregon. That’s 18 cents higher than the previous record.
The supply of cattle going to market has been low for several years. Droughts throughout Oregon and the nation caused cattlemen and women to reduce their supply of livestock.
The price of beef depends on the market and changes daily. But, people are selling their cattle for more than in prior years.
Ron Rowan, with the Oregon Cattlemen’s Association, says the new prices are great for sellers who have the cattle.
“Now in terms of the retail customer, yeah we are seeing higher beef prices in the stores,” Rowan says. “We are rationing some demand a little bit.”
Rowan says exports of beef products like tongue are doing well, too. He thinks over the next couple of years the price of cattle will continue to increase.
Oregon produces about half a million cattle for slaughter a year.