Cattle prices boom due to drought

ATHENS – Cattle auction prices have risen to record numbers in part due to East Texas rancher’s reducing their herd sizes in response to the 2022 drought.

“We actually had record-high calf prices last week in parts of Texas,” David Anderson, extension economist with Texas A&M AgriLife, said.

Due to the extreme drought in 2022, East Texas ranchers resorted to selling their cattle resulting in increased cattle sales for the Athens Commission Company.

“That was really an economic signal, you know, with drought, with high costs, the signal was to reduce the number of cows that we had,” Anderson said.

Now, auctions are not seeing as many sales because ranchers herd’s have decreased causing auction prices to rise in record numbers.

A market report in 2022 in comparison to the market report in 2024 shows that a baby calf in 2022 was worth at least $25 and now they will go on auction for at least $150.

This economic growth in cattle prices could aid ranchers in rebuilding their herds and other necessities.