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Montana Stockgrowers Association: Cattle market dropped dramatically

The cattle market mirrors the stock market.
Posted at 6:05 PM, Apr 01, 2020
and last updated 2020-04-01 20:05:34-04

The Cattle market has dropped dramatically, according to the Montana Stockgrowers association.

It was supposed to be a year of high demand for cattle with great potential in export markets. However with the Coronavirus, the cattle market mirrors the stock market, going down according to the association.

The demand for meat in retail stores is high but those profits hardly go back to the Cattle producers or feeders in Montana. Bull sales are still going but with strict guidelines to follow to prevent the spreading of the virus. Some bull sale auctions have gone entirely virtual. But with many ways to combat the virus, the future is still uncertain.

“We really don’t know what the uncertainty of this is. With unemployment rates dramatically increasing, we don't know how that is gonna affect consumer spending, or consumer demand. At the end of the day, we want to make sure that we have our products there available for our consumers,” says Jay Bodner, the Executive Vice President at the Montana Stockgrowers Association.