At Sidney Livestock Market Center in Montana, feeder cattle prices are nearly 90 cents higher per pound than last year, with some topping $3.75 and fed cattle at $2.47 per pound.
Corn prices have dropped by about 25 cents, easing feed costs for ranchers and contributing to optimism among cattle producers after years of tight margins and inventory lows.
Volume at the market remains steady, but higher prices and dry conditions are prompting more older cows to be sold, with producers uncertain how long these elevated prices will last.
Drought is stalling herd rebuilding. What happens to beef prices if the rains don't come?
The US cattle herd is shrinking, yet beef production has increased. How is this possible?
Record beef prices are hitting stores. At what point will consumers stop buying?
With cattle inventory at a 75-year low, can the US beef industry survive without imports?
Are high beef prices creating the perfect opening for plant-based meat alternatives to take over?
Will today's record profits for ranchers lead to another devastating market crash like in 2015?