Cattle prices are the highest that farmers have seen in over ten years. Prices plummeted after the BSE crisis in 2003 and are finally back up to a level where farmers are able to recover the cost of production. Based on sales averages from the Sussex & Studholm Agricultural Society in early-October prices have increased over 85%. Sales prices were up an average of $.84/lb for bulls and $1.23/lb for steers over the same time last year.
Over 50% of NFU-NB members keep cattle and the rise in prices means a stable financial year for many of them. The high prices will particularly benefit farmers with a cow/calf operation; meaning they sell the young cattle at a weight of 500 – 600 pounds. Trends are expected to keep up for at least the next few years due to market demand.
Even with positive projections for stable prices, the NFU-NB encourages all farmers to do their research and make an informed decision regarding the market outlook of cattle prices before committing to any major, long-term investments in cattle.
The National Farmers Union in New Brunswick is one of two accredited general farm organizations in the province. NFU members believe that the problems facing farmers are common problems, and that farmers producing diverse products must work together to advance effective solutions. The NFU works toward the development and implementation of economic and social policies that will maintain the family farm as the primary food-producing unit.
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Contact: Jean-Eudes Chiasson, President, NFUNB (506) 775-6033
Amanda Wildeman, Executive Director, NFUNB (506) 260-0087
