Beef Prices and Farmer Challenges Quiz

What was the estimated all fresh value of beef per pound in July according to USDA’s Economic Research Service?

• $8.50

• $8.15

• $9.00

• $7.50

What weather phenomenon contributed to the drought affecting pasture conditions?

• Hurricane

• Monsoon

• La Niña

• El Niño

What is the main reason for the contraction in the cattle inventory?

• Increased cattle exports

• Decrease in beef demand

• Higher feed grain prices

• More female cattle placed on feed for slaughter

Why have retail beef prices hit record highs?

• Increased beef imports

• High demand and reduced supply

• Government subsidies

• Technological advancements in farming

What was the number of cattle on feed on August 1, according to USDA’s NASS?

• 10.5 million

• 11.1 million

• 12.0 million

• 9.8 million

What percentage did feed grain prices decrease by in 2024?

• 20%

• 10%

• 25%

• 15%

What is the main obstacle for new farmers entering the cattle industry?

• High cost of buying cattle

• Lack of available land

• Lack of interest

• Government regulations

What was the average age of a farmer according to USDA’s 2022 Census of Agriculture?

• 58.5 years

• 56.5 years

• 55.5 years

• 57.1 years

What is the expected trend for beef prices if the cattle inventory continues to decrease?

• Prices will decrease

• Prices will stabilize

• Prices will increase

• Prices will remain unchanged

What is one reason why farmers might choose to sell their cattle rather than expand their herd?

• Government incentives

• Abundant feed supply

• High interest rates

• Low market prices