The cattle market is shattering records with prices around $230 - nearly $40 better than last year - despite increased production volumes. This unprecedented four-year bull run has veterans of the industry struggling to find historical comparisons, with the market staying above year-ago levels for 216 out of 220 consecutive weeks.

Choice cutouts recently hit $360, a figure only surpassed during brief spikes during COVID. "In the middle of all this economic uncertainty and noise in the news, consumers are buying beef. It's really a remarkable story," notes Nevil Speer. This robust demand ripples throughout the supply chain, supporting strong prices while carcass weights run approximately 20 pounds heavier than last year. The conversation explores how beef has transformed from a 1990s dinner table staple into today's luxury product. "You don't take your hot date out for chicken wings," quips Clint Peck, explaining beef's premium positioning in the modern marketplace.

The discussion also tackles several critical industry issues, including drought concerns across cattle country, the proliferation of ranch-to-fork branded beef programs, and misconceptions about Australia-US beef trade relations. BEEF Banter hosts emphasize that political borders don't define economic realities - Montana exports 90% of its calves to other states, demonstrating how trade naturally flows where it makes economic sense regardless of geographic boundaries. As Peck notes, today's biggest risk in the cattle business isn't markets or politics but simply "keeping cattle alive" given their unprecedented equity value.

BEEF Banter is the podcast where the BEEF team digs into the real issues shaping the beef industry. From markets and meat quality to policy, production, and beyond—nothing's off the table. BEEF Banter hosts are Sarah Muirhead, Clint Peck and Nevil Speer.

Subscribe to Beef Banter wherever you get your podcasts for more expert analysis on the trends shaping the beef industry from markets to meat quality to policy and beyond.

The cattle markets show remarkable resilience despite significant international trade challenges, according to BEEF's Clint Peck and Nevil Speer in our inaugural Beef Banter podcast. Fed cattle continue trading steadily around $211-$212 even as exports to China have disappeared – a loss representing approximately $60 per head compared to last year.

As Speer notes, "This is not grandpa's game anymore," with fed steers worth approximately $3,000 each.

Our conversation challenges some persistent industry myths, particularly regarding imported beef. Peck, drawing from his experience as Montana's Beef Quality Assurance Program director, emphasizes that quality encompasses both eating characteristics and safety/wholesomeness. He argues that criticizing imports as "lower quality" misunderstands their role, as imported trimmings actually create substantial value for domestic producers – worth about $150 per head. Without these complementary imported products, U.S. beef would lose significant value.

Moving forward, Brazil is thought to be the primary beneficiary if U.S. beef continues losing international market share. Once these markets are lost, "switching costs" make recovery difficult even with America's competitive advantage in high-quality grain-fed products. Additional concerns include labor challenges in processing plants and potential disruptions to feeder cattle imports should the Mexico border face additional closures.

Join us on BEEF Banter for more insightful discussions on the factors shaping today's beef industry. Hosts of BEEF Banter are Sarah Muirhead, Clint Peck and Nevil Speer. Subscribe to Beef Banter wherever you get your podcasts and share your questions for future episodes!