Lower crop yields and herd selloffs in states affected by drought will have limited impacts, according to a new survey of producers in the Dakotas, Minnesota, and 11 Western states.
American Farm Bureau Economist Daniel Munch says 40 percent of respondents reported they sold off part of their herds due to high hay prices and deteriorating grazing lands. “Overall, not going to have a huge, immediate impact on the broader beef market. Texas and Nebraska were not nearly impacted by droughts and those are our two largest beef producing states, but it did take a toll on some of our ranches out west.”
Producers rated the following areas on a scale of 0 being not prevalent to 5 being extremely prevalent: Crop-specific factors, livestock-specific factors and general water access.
