MISSOULA — Thousands of Montana ranchers are seeing low cattle prices after an uptick in 2014.
The Missoulian reports demand pushed prices higher in the fall of 2014, but factors like oversupply have led to the decrease.
Per-pound prices have fallen by about a third from a year and a half ago to about $1.10 compared to $2.50.
Bill Bullard of the Ranchers-Cattlemen Action Legal Fund says prices have never collapsed this way before, and that the country’s rural economy will lose billions.
The group wants an investigation into possible price fixing by meat packers.
Montana State University’s Department of Agricultural Economics associate professor Eric Belasco says a study found meat packers did not have much ability to manipulate prices.