No matter the industry, 2020 is in a league of its own when it comes to trying to stay positive about business.
The global pandemic has left the industry on edge. Earlier this year, COVID-19 forced some meat-packing plants to shut down temporarily, which caused a backlog for feedlots.
“Everyone was extremely afraid of what was coming, because we didn’t know from one day to the next — here or in the United States — and we depend on each other very heavily for markets to be made, and yes, there was a lot of worry this spring and certainly there still is now,” Balog said.
The federal government stepped in to help the feedlots with funding but it still left major uncertainty for cow-calf producers waiting for fall run.
“Now it’s time to wean the calves in the next 30, 40, 50, 60 days, so the calves will be coming to town, the grass is starting to dry up, the yearling cattle have already been coming to town — so that’s what we call fall run, when the cattle start to be merchandised and sold,” Balog explained.
He said the feedlots are getting the backlog of cattle moved and good weather has brought the bottom line for the cattle industry up.
That demand is holding up the price as producers begin to sell their calves.
“We’re very pleasantly surprised,” Balog said. “The prices are very similar to last year. In fact, the light-weight calves — the 400-, 450-, 500-weight calves — are perhaps a little bit higher than a year ago.”
With how uncertain 2020 has been, Balog said it’s a payday producers are banking on.
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