Livestock industry benefiting from lower feed costsFargo, ND (WDAY TV) - For the first time in about 2 years the livestock industry is in an upswing.
By: WDAY Staff Reports, WDAY
Fargo, ND (WDAY TV) - For the first time in about 2 years the livestock industry is in an upswing.
Beef cattle numbers across the US have been falling since 2007 because of drought conditions that devastated pastures and drove feed crop prices sky-high. Now, our more favorable weather is bringing more normal forage and grain production.
Last year at this time ranchers had to auction off animals to keep up. Feed prices were at about $7. Now, they're hovering around $4.
David Newman – State Swine Extension Specialist: “The result here is that we can provide profitability in livestock. It's a small amount, but it's still some profitability and we haven't seen profitability in quite some time.”
Newman says all of this could change if farmers in our area don't a get some much needed rain.