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High beef prices have producers asking what’s next

Cattle producers are wondering when the stretch of high beef prices might come to an end. 

Minnesota State Cattlemen’s Association president Jake Thompson says these are unprecedented times for the cattle market.

“It’s an interesting time. I think we hopefully have a little time ahead of us where we can continue to see this. I’ve talked to guys that believe that this is the new norm, I don’t know myself if I’m going to go that far into it. But I hope, that would be great.”

Speaking to Brownfield during the Minnesota Cattlemen’s Summer Beef Tour in Marshall, he said risk management continues to be critical.

“I do a lot of LRP’s (Livestock Risk Protection) just because we mainly do cow-calf, we do background our own calves. For me that’s been a better tool than put (and) call options we’ve used in the past. And it’s been able to allow me to do small increments along the way here.”