Losses from two years of drought added to last October's devastating winter storm in the Upper Midwest -- it all translates in higher prices for beef. You'll notice it the next time you buy a Quarter-Pounder.
“This is the first time in, well, since I can really remember, that we're able to sell cows or calves at a significant profit,” Hyman says. “It's been a long time coming.”
Steady demand and a shrinking herd are leading to a good pay off for Texas ranch owners. The herd is much smaller.
“The last couple of years, because of the drought in Texas,” he says, “we've probably lost almost 30 percent of the number of cows we have in Texas.”