Tag Archives: Ga beef

Will High Beef Prices Stick Around?

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Athens, GA |

It’s been sticker shock for customers browsing the beef section of their local grocery store over the past few years with prices reaching record high levels. That trend is likely to continue this year with inventory taking a dip.

“So, in 2024, cattle prices should be very high. We should continue to see the trend that we saw in 2023 where we saw prices continually higher year over year. In 2024, we expect that to continue where we see prices higher year over year,” says Will Secor, Extension Livestock Economist.

However, that had yet to curb the demand. In fact, the amount of beef being eaten domestically continues to rise.

“Despite those really high beef prices, we actually see consumers consuming more beef per person in the US. We have pretty similar real prices, normal prices for beef in the retail sector for the past couple of years as say maybe where we were in 2014 or so. We’re actually consuming a few more pounds per person in the US,” says Secor.

As for when consumers can expect to see a bit of relief on the prices, that won’t be for quite some time with herd contraction predicted to continue.

“We’re expecting probably about a ten year to eleven-year cycle on average when we look at the history of cattle inventory numbers. What that means is we just hit year ten. So, we’re going to be moving into year eleven in 2025. So, we expect probably sometime around 2025 for those numbers to bottom out and start to move higher form there,” says Secor.

Just how high those prices get might determine the future of the cattle market.

“Once we start see beef prices this high, we’re really kind of testing the consumer’s willingness and ability to pay for beef. The question mark is, especially if we hit any kind of macroeconomic concerns like a recession or higher unemployment, then we might start to see the consumer start to pull back from beef and maybe go to other cheaper protein alternatives such as chicken or pork,” says Secor.

With all those economic uncertainties, cattlemen could mitigate some of that risk by taking advantage of the current prices.

“Cut costs where you can, but don’t cut corners. Then, also think about with these high prices, where are opportunities to lock in and protect from any kind of downside price risk. So, thinking about all the different price risk management strategies that they can take advantage of, what fits their operation and how can they use those to manage some of those risks and take advantage of these higher prices,” says Secor.

By: Damon Jones

Georgia Cattlemen’s Association President Dedicated to Organization, Industry

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Blairsville, GA

For Joe Garner, this farm here and this herd of cattle is a lifelong dream that, after many years, has finally become a reality. Garner, who’s family had cattle when he was younger, has always longed to have a herd of his own someday and now that the day is finally here, he says it’s nothing short of a blessing.

“I got my interest and my feet dirty in the garden,” says Joe Garner, President of the Georgia Cattlemen’s Association. “I started driving a tractor when I was in the eighth grade. We still put up hay and those kinds of things, but the cattle, they made a decision when I was five, to market the cattle. And so, I yearned for that day to cattle to come back into my life from that moment. So I started showing calves, steers, eventually showed some heifers throughout late middle and high school, and I guess it’s always been a dream to have a farm. It’s really a blessing to have a place like this.”

In 2014, Garner decided to get involved with the Georgia Cattlemen’s Association at the local level, where he has since served in various roles, the most recent of which is state President – something he considers an honor as he wholeheartedly believes in the organization and its mission to advance and advocate for the beef industry and serve the cattlemen of Georgia both in the field and Atlanta.

“The Cattlemen’s Association is charged to educate our producers, to help with marketing in some ways. We also have a strong legislative component where we actively follow bills and legislation through the process, each forty-day session there at the State Capitol,” says Garner. “It’s really a critical link for all of us, not just the cattle producers, but all farmers in general, to kind of keep some of that legislation at bay that may cause us undue harm, because they don’t see it from our angle. They don’t understand the implication that food and fiber doesn’t just happen at a grocery store. Food and fiber happens out here in the field.”

Not only does Garner believe in the Cattlemen’s Association, Garner also believes in the power of beef and says that it’s a wholesome, renewable product that not only feeds people, but enhances their lives by what beef cattle and beef cattle operations have to offer.

“Beef is a wholesome food. It is packed with many vitamins and minerals. It’s a firm source of protein and it is renewable. It allows us to keep the green space that is critical for all of our lives across the state. You know, many people may not own cattle, but I would venture to say a majority of people enjoy cattle out grazing in a field. They enjoy that green space. And that to me is a critical piece to the quality of life for all Georgians,” says Garner.

By: John Holcomb