Cattle prices hit record highs amid nationwide inventory decline

Beef and cattle prices have reached unprecedented levels across the nation, with the Abilene livestock auction serving as an example of the broader economic impact.

Experts attribute the surge to a significant decline in the country's cattle inventory, exacerbated by persistent drought conditions and rising input costs.

"Cow herd in America is the lowest it’s been in over 70 years," said cattle buyer Madison Michener. "I’ve been doing this since I was a teenager, and these are the highest priced cattle I’ve ever seen."

Despite the soaring prices, consumer demand remains robust. However, the ripple effect is felt at grocery stores, where families already grappling with inflation face higher costs for brisket, ground beef, and steaks.

"People in the grocery stores are obviously seeing prices go up," said a longtime cattle industry participant. "Everything is considerably higher, and in the last year prices have continued to escalate the levels that none of us have ever seen in our lifetime."