Cattle production and beef is a $12 billion a year industry in Nebraska. Ann Marie Bosshamer is the executive director for the Nebraska Beef Council and says the state is the best spot in the nation for cattle and beef. Nebraska is ranked number one in the nation for cattle on feed and red meat production. She says we have 25% of the total beef production is done right here in Nebraska with eleven packing plants in the state.
With that said, many people are walking away from the beef at the meat case due to the high cost and opting for pork or chicken. Bosshamer says, “Retailers don’t fluctuate their prices like a yo-yo. We are seeing prices going down on a national average. I think they are down about five-percent.” This is from the high they were a couple of years ago but again Bosshamer says that is on a national level so prices depend on where you live.
There are reports that some high-end restaurants are seeing a huge jump in prime cut meat prices, as much as 20% to 30%. That large of a hike is too much to pass along to consumers so right now they are absorbing those costs.
A recent report from the Colorado Cattlemen’s Association says the demand for beef is growing but producers are still in the process of rebuilding their herds after a drought several years ago. They report that wholesale beef prices have gone up by 20% to 30% in the last two months. The good news is prices are expected to go back down as we move into the fall months but the prices could then again climb as more U.S. beef heads to China.