Since bottoming out, the cattle market has started to rebound some recently. Meanwhile, boxed beef trade has had a pretty good rally from October lows. Overall though, suffice it to say it has not been a great year for cattle prices. Radio Oklahoma Ag Network Farm Director Ron Hays recently spoke with Robert York, CEO of National Livestock Credit Corporation, who shared his perspective on the markets this year.
“We had severe losses in ’15 and then when you think it can’t get any lower,” York said, “it continues to ma new low. So, just massive equity drains among these producers.”
National Livestock Credit Corp. has financed ranchers since 1932 and since then, they have seen their fair share of tough times in the cattle market, he says. This year though is reminiscent of the crash of 1973 for many people, York suggests.
“This feels like that,” York said, “and that changed a lot of people’s lives for a long time.”
Despite the turmoil, York remarks that he is optimistic that tools such as FedCattleExchange.com are beginning to show promise in helping to improve the way the market works for producers.
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