What will the markets do next? Aside from keeping an eye on the weather forecast, this seems to be the frequent question among ranchers in today’s cattle business. With recent record-high calf prices, we’re not always sure what to expect next, only guessing whether the markets will fall or continue climbing.
At Stockgrowers 2015 MidYear meeting, attendees will be provided with some insight and historical context to today’s cattle market prices and what can be expected in the months ahead. Dr. Gary Brester, Professor in the Department of Ag Economics at Montana State University, will highlight the Opening General Session on Friday, June 5.
“Current record-high calf prices have occurred (in inflation-adjusted terms) three times since 1920 — in 1951, 1973, and 1979,” says Brester. “In each case, price spikes were caused by a combination of low cattle numbers and unusual market situations. Each of these record-high price events was short-lived — less than two years.”
In general, prices declined after each of these price spikes after outside economic conditions corrected themselves in response to world events. During these previous periods of high prices, cattle inventories increased for a short time.
Will history repeat itself after 2014’s record-setting cattle prices? Will these high returns to ranchers continue in response to lower world cattle inventories and continued strong beef demand?
Find out more by attending Montana Stockgrowers’ MidYear meeting and hearing from Dr. Brester at the Opening General Session. Event tickets are available online for a 20% discount if registration is completed prior to June 1.
The 2015 MSGA MidYear Meeting takes place on the campus of Montana State University in Bozeman, June 4-6. For more information, contact the MSGA office at (406) 442-3420 or visit our event page.