High feed and fuel prices coupled with severe drought make this year’s outlook for cattle producers pretty grim, officials say.
Cattle prices are setting records this year at about $118 per hundred weight, according to the U.S. Department of Agriculture. Last year, cattle prices were about $93 per hundred weight.
Estimates by the Texas Farm Bureau put production costs for rural businesses up 85 percent, and Gregg County agriculture extension agent Dennis Smith said low hay production could raise costs even more.
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