Sam Middleton visits with John Welch, a longtime friend, cattle rancher, and former cattle market analyst, and past president of the Spade Ranches, about the unprecedented rise in cattle prices and what may lie ahead for the beef industry.
Their discussion explores the historic decline in U.S. cattle inventories, ongoing herd liquidation caused by drought and high costs, and the strong consumer demand driving prices higher. Welch explains why today’s market cycle is different from previous ones, how producers are weighing the decision to retain replacement heifers, and why rebuilding the nation’s cow herd could take years.