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‘Megadrought,’ Big Meat Packers Drive Prices Up For Wyoming Beef

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‘Megadrought,’ Big Meat Packers Drive Prices Up For Wyoming Beef


Anyone who loves to throw a good burger or steak on the grill won’t be surprised ranchers are realizing record profits and consumers are paying premium prices at grocery stores.

The contrast between these trends stems is the first lesson taught at business schools everywhere: supply and demand, or vice versa. For the beef industry, including Wyoming ranchers, high demand and limited cattle supply allows them to get top dollar for their livestock, maximizing profits in the current market.

“It’s a supply and demand issue,” said state Rep. Bob Davis, R-Rock Springs, who is also a rancher by trade. “Beef is in high demand, but ranchers don’t have the inventory to fill that demand. That’s bringing prices up and determining the price that the processors are willing to pay the ranchers for the beef.”

At a recent National Cattle Convention held in Florida earlier this month, industry experts from CattleFax presented an optimistic outlook, projecting record prices across all classes of cattle for the year ahead.

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Drought Discourages Breeding

Several factors propel the bullish forecast, with a yearslong drought being the most significant. These dry spells in the Western and Midwestern regions of the U.S. have hindered efforts to expand herds and contributed to their continued decline, Davis said.

“We’ve been in a drought for at least four years,” he said. “And ranchers have had to sell down their inventory because of a lack of feed, lack of pasture, lack of water. We just can’t compete with mother nature.”

Severe drought causes cattle to stop breeding, resulting in a scarcity of calves for sale, which causes ranchers to miss out on crucial income.

“We had to sell half our herd over those four years. We started with 300, but when there’s a drought they don’t breed, so they’re dead weight and we don’t make money if they aren’t breeding cattle we can spell,” said Marilyn Wood, a southern Utah rancher.

To replenish the depleted inventory, the Wood family would need to spend about $1,500 per head at current prices, amounting to a significant $225,000, she added.

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However, realizing a return on that investment would require a two-year process. After acquiring the calves, a year is needed for it to mature and become eligible for breeding. Then it’s an additional year before the bred calves can be sold.

Rebuilding

Furthermore, achieving a full return on that investment depends on several factors, including the selling price of the beef compared to the initial purchase price. There is also uncertainty about whether all calves will successfully breed.

“Most ranchers don’t have $225,000 to go out and replace 150 head of cattle,” Wood said. “It takes a lot of years to rebuild that inventory.”

The most recent USDA inventory report reveals a historic low in cattle numbers, with a 2% decrease to 28 million head. This marks the lowest inventory level in 50 years, a trend expected to continue for three more years.

The low inventory also creates problems for ranchers needing to buy cattle to replenish their herds.

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“There isn’t enough cattle on the market for ranchers to just go out and buy more,” Wood said. “We have to build our inventory with the herds we already have, and that takes years.”

While 2023 brought favorable weather conditions overall for cattle ranchers, it wasn’t enough to declare an end to the drought, according to the National Oceanic and Atmospheric Administration’s 2023 drought report.

The Great Plains region, spanning from Montana and North Dakota to Texas, endured three years of unusually dry conditions. Above-average precipitation in 2023 brought some relief, especially in the Western areas. But the area still didn’t fully bounce back from the deficits of the previous three years.

Scientists have dubbed the drought ongoing in the Western region for more than two decades a “megadrought.”

The Southwest region also has experienced several years of drought, with 2023 providing some relief, but not sufficient to fully alleviate the area from drought conditions.

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Even if the drought lifts and ranchers can replenish their inventory, shoppers aren’t likely to find much relief at the grocery store in the near future.

Beef prices have been continuing to climb as ranchers don’t have enough supply for demand, like these prices at King Soopers in Cheyenne. (Greg Johnson, Cowboy State Daily)

Big Beef Business

Many ranchers say this is largely because of the influence of major packing conglomerates on the meat processing industry.

“These corporations are the biggest reason why we are seeing the prices we are seeing,” said Tyler Lindholm, fifth-generation rancher and state director for the free-market advocacy group Americans for Prosperity.

Referred to as the “big four,” these companies wield control over the market, dictating the price at which beef is sold, Lindholm said. Critics argue this dominance amplifies market instability and undermines the interests of consumers and ranchers.

“These four major packing corporations are the problem,” Lindholm said. “Yes, right now ranchers are making a profit. But it’s just a bubble and like bubbles, they pop. And I don’t expect these processing companies, who really are responsible for setting the price you pay at the store, to bring the price back down.”

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Lindholm also stressed the importance of legislative measures to address the overwhelming control exerted by these corporations to ensure fairness and stability in the market.

As part of this, Lindholm advocates for state laws that enable people to buy beef directly from local ranchers, bypassing the big companies. He said direct-market friendly laws pair consumers with fresher and potentially higher quality products, but also enable them to support local businesses and farmers.

Additionally, he would like to see more state-inspected packaging facilities. This way, ranchers wouldn’t have to rely on big corporations to process and package their beef, giving them more control over their products and ensuring a fairer marketplace.



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Wyoming mountain bike hotspot Curt Gowdy wants to know how it can improve

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Wyoming mountain bike hotspot Curt Gowdy wants to know how it can improve





Wyoming mountain bike hotspot Curt Gowdy wants to know how it can improve – County 17



















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Hoping to draw Colorado interest, construction begins at $80M betting facility in Laramie County

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Hoping to draw Colorado interest, construction begins at M betting facility in Laramie County


CHEYENNE, Wyo. — Foundation work is beginning this week on Wyoming’s next horse betting and gaming house.

The $80 million Wyoming Downs facility in Laramie County, one of two the company is investing in over the next couple of years, is poised to be one of the largest facilities of its kind in the state. The company is aiming for a spring 2027 opening.

The facility will host upwards of 600 historic horse racing machines, Wyoming’s largest TV wall, multiple dining options and more across 58,000 square feet. More land was bought for future hotel development. Commuters driving between Cheyenne and the Colorado border can see clearly from Interstate 25 the expansive development.

That placement along the travel corridor is purposeful, Wyoming Downs and 307 Horse Racing President Kyle Ridgeway said.

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“I think that the targeted consumer for this is from Colorado or from the Front Range,” Ridgeway said. “I anticipate we’re going to have plenty of people from Cheyenne come down here to play and enjoy the amenities, but when you look at 600,000 people within a 30-minute drive, that’s what justifies this investment and brings all that tax revenue in from another state, which is fantastic.

“We don’t get the opportunity to do that in Wyoming very often.”

Wyoming Downs and 307 Horse Racing President Kyle Ridgeway speaks to attendees at the joint venture’s groundbreaking ceremony for an $80 horse betting facility in Laramie County June 2, 2026. (Garrett Grochowski, Cap City News)

There is still plenty to offer Cheyenne residents besides the facility’s amenities. Ridgeway said in a speech to attendees at the project’s groundbreaking Tuesday, June 2, that more than 150 permanent jobs will be supported by the facility on top of the dozens supported by the companies’ corporate offices and the 400-plus involved in the project’s construction.

Groathouse Construction, a Wyoming business, is the project’s general contractor. Wyoming Downs said it believes putting the project in local hands also helps keep the project uniquely Wyoming-focused.

Ridgeway added the facilities have already proven themselves to be effective tax revenue generators for the local governments. The Wyoming Gaming Commission’s 2025 report, released in late May, shows bettors wagered $2.49 billion on historic horse racing machines last year, a jump from the $2.11 billion wagered in 2024.

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Wyoming Downs facilities generate roughly $25 million in taxes annually across the state, and Ridgeway estimated after the ceremony that the upcoming $80 million facility alone will generate an additional $3 million for Laramie County once the property has been in operation for a few years.

Horse betting sites have been increasingly popping up across Wyoming this decade. The Wyoming Downs location will be Cheyenne’s second large-scale horse betting facility since 2024, when the 30,000-square-foot Horse Palace at Swan Ranch opened. Ridgeway said Wyoming Downs is still offering something fresh for tourists and residents.

“This’ll have amenities that Swan Ranch doesn’t have, including the largest TV wall in Wyoming and a pretty super-cool sports viewing area with a restaurant and just a level of finish and class that I don’t think Wyoming has quite seen yet with these types of properties,” he said.

Ridgeway said he thinks resident fatigue with these facilities isn’t as strong as it appears, especially given the tourism benefits of off-track betting.

“Wyoming’s been built on mineral extraction and tourism, and what this is is a touristic facility. I’m not aware of any particular pushback about this specific facility outside of — you see random social media comments where people say, ‘Oh, another gambling facility.’ But where this is located, I think people in Cheyenne have generally been supportive of,” he said.

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The Laramie County facility will be just one part of a larger project Wyoming Downs is working on over the next few years. Construction will begin in early 2027 on a similar facility in Evanston looking to draw in Utah and western Colorado crowds.

Some of the company’s current facilities, notably in Casper, Cheyenne and Rock Springs, will see millions poured into renovations as well. New smaller-scale parlors will also go up in Gillette and Green River this year, according to an information packet provided by the company.

More details will come as the construction process develops, Ridgeway said. Details about amenities, such as what the complex’s dining options will look like, remain undisclosed, though Ridgeway promised that options will be “excellent.”

“We haven’t made final selections on what the options are, but we have a number of different options on the table that we’re considering for what we want to offer for the customers,” Ridgeway said. “You have to have something that’s high quality for where this is located. If somebody’s going to drive 25 or 35, or even 45 minutes to come here, they got to be able to sit down and have a quality meal.”

For more information as it becomes available and to learn more about Wyoming Downs facilities and 307 Horse Racing‘s events and offerings, see the companies’ websites. Renderings for the upcoming Cheyenne facility commissioned by the company are available for viewing below.

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Rendering of an exterior section of the Wyoming Downs and 307 Horse Racing gaming facility, which begins construction the week of June 1, 2026, and will likely open sometime in spring 2027 (Image courtesy of Wyoming Downs and 307 Horse Racing)
Rendering of an interior section of the Wyoming Downs and 307 Horse Racing gaming facility, which begins construction the week of June 1, 2026, and will likely open sometime in spring 2027 (Image courtesy of Wyoming Downs and 307 Horse Racing)
Rendering of an interior section of the Wyoming Downs and 307 Horse Racing gaming facility, which begins construction the week of June 1, 2026, and will likely open sometime in spring 2027 (Image courtesy of Wyoming Downs and 307 Horse Racing)
Rendering of an interior section of the Wyoming Downs and 307 Horse Racing gaming facility, which begins construction the week of June 1, 2026, and will likely open sometime in spring 2027 (Image courtesy of Wyoming Downs and 307 Horse Racing)
Rendering of an interior section of the Wyoming Downs and 307 Horse Racing gaming facility, which begins construction the week of June 1, 2026, and will likely open sometime in spring 2027 (Image courtesy of Wyoming Downs and 307 Horse Racing)
Rendering of an interior section of the Wyoming Downs and 307 Horse Racing gaming facility, which begins construction the week of June 1, 2026, and will likely open sometime in spring 2027 (Image courtesy of Wyoming Downs and 307 Horse Racing)
Rendering of an interior section of the Wyoming Downs and 307 Horse Racing gaming facility, which begins construction the week of June 1, 2026, and will likely open sometime in spring 2027 (Image courtesy of Wyoming Downs and 307 Horse Racing)





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Megan Degenfelder, Brent Bien face off in gubernatorial campaign debate

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Megan Degenfelder, Brent Bien face off in gubernatorial campaign debate


GILLETTE, Wyo. — Two of the Republican candidates for Wyoming governor, Megan Degenfelder and Brent Bien, went head to head in Campbell County this evening. They both highlighted differences in some areas but agreed on energy, public lands, government oversight, abortion and election security.

Degenfelder, Wyoming’s superintendent of public instruction, introduced herself as “a Wyoming ranch kid whose parents clawed their way into the middle class” and said she believes Wyoming is “worth fighting for” because she believes the Wyoming people’s lives are at stake.

Bien, a retired Marine Corps colonel and combat veteran, pointed to his military career and leadership experience.

“My whole adult life has been about leadership, about principled conservative leadership,” he said. “My objective is to restore principled conservative leadership, accountability and discipline to Cheyenne.”

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Nuclear energy

Both candidates supported Wyoming’s role in energy production but opposed bringing outside nuclear waste into the state.

“I do not want Wyoming to be … the permanent repository for spent nuclear fuel. I will not allow that to happen on my watch,” Bien said.

Degenfelder said Wyoming should consider nuclear power as part of its energy future but added, “If it works for us to be able to have nuclear as part of the portfolio, then it has to be right for Wyoming and that is ensuring that we do not accept anyone else’s waste, period.”

Public lands

The candidates also opposed privatization of public lands.

“No one loves public lands more than I do,” Degenfelder said. “You start selling that to the highest bidder, Wyoming loses who we are.”

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Bien said he is “absolutely opposed” to federal lands being sold to private interests.

“If they do decide to dispose of it, then we as the state of Wyoming should get first-right refusal at no cost,” he said.

Attorney general and judicial appointments

When asked what each would be looking for in an attorney general and judicial appointment, both candidates called for conservative leadership.

Bien said he would seek an attorney general from outside state government.

“I want a clean set of eyes to look at what everything’s been that’s been going on,” he said. “I want someone who will put people first and it will put Wyoming first.”

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Degenfelder said she wants stronger advocacy from state agencies.

“I want a bulldog in not just the attorney general’s office, but in all state agencies,” she said. “I want an attorney general that is so aligned to my mission and vision and what I believe that there’s an amicus brief on my desk the next morning after an action takes place.”

Immigration

Both candidates supported stronger immigration enforcement.

Bien explained he wanted to cooperate with ICE “to the fullest extent possible” and to make sure immigrants who are not in the United States legally would be sent out of the state.

Degenfelder said illegal immigration is already affecting communities in Wyoming.

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“If you’re here legally, you got nothing to worry about. If you aren’t, it’s time to go home,” she said.

Energy development and green energy

Energy policy generated some of the sharpest comments of the night.

Degenfelder argued renewable energy projects should compete without government support.

“I’m also an economist and so I’ll tell you the way that you kill these green energy, you make them play on the same playing field,” she said. “No more tax subsidies, no more handouts, ensuring the regulatory environment is just as equal.”

Bien took a firmer stance against renewable development.

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“Folks, there’s no place in Wyoming for this green energy,” he said. “I want these things bonded up front and where we’re not paying for these like we did all the gas wells. The answer for me is absolutely, unequivocally no.”

Economic development

Degenfelder argued government should focus on infrastructure such as water and sewer systems rather than directing economic development.

“Government does not create jobs. Private business does,” she said.

Bien echoed that sentiment.

“The only business that government has in business is simply to get out of the way. It’s to cut taxes. It’s to deregulate,” he said. “Right now, we’re turning into state capitalism where we have our own state government picking winners and losers.”

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Government audits

Both candidates supported increased auditing of state government.

“This state has not done a full-blown budgetary audit since 1989,” Bien said. “Whoever’s belly-aching loudest is going to get audited first.”

Degenfelder agreed.

“We should be auditing every single state agency, every single budget line all the time,” she said. “Government is a beast, and you need someone in there who can tame it and who knows how to do it.”

Abortion

Abortion was another topic where both candidates expressed strong opposition.

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“Life starts at conception and there are no exceptions,” Degenfelder said. “We are now one of the most openly abortion states in the country because of that ruling by the Supreme Court. We’re working against the devil here.”

Bien also opposed abortion.

“Folks, for me, there are no exceptions. Life does begin at conception,” he said.

Election integrity

Bien advocated for hand-counting ballots.

“I am very much a proponent of hand tabulation being the primary method of counting all cast paper ballots and I will push that way,” he said.

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Degenfelder called for paper ballots statewide.

“Every single ballot should be a paper ballot,” she said, adding that she supports “banning dropboxes.”

Republican platform

Both candidates pledged support for the Wyoming Republican Party platform.

“80% is a no-brainer, and we need to require that out of our elected officials,” Degenfelder said.

Bien said he expects to be held to “100%” of the platform.

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“The party’s been co-opted. You have to have an ‘R’ behind your name to win in this state,” he said.

Candidate priorities

During a segment where candidates selected their own discussion topics, Degenfelder highlighted school choice, career and technical education, removing pornography from school libraries and protecting Wyoming’s water rights.

Bien focused on education and agriculture, criticizing student proficiency rates and proposing policies aimed at strengthening Wyoming’s agricultural industry, including declaring agriculture critical infrastructure and reducing regulations on small butcheries.

Technology and education

Although technology and its place within education was not discussed during the debate, County 17 asked both Degenfelder and Bien their thoughts regarding student technology in schools.

Bien said technology is being used too much in classrooms and is making it harder for students to think on their own.

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“What it’s doing is it’s dumbing down our kids,” Bien said. “Our kids aren’t learning how to critically think anymore. They go straight to one of the AI things and it generates an answer for them.”

Degenfelder said she backed a bill to ban cellphones during instruction time.

“I supported a bill that came through the legislature a couple of years ago that actually would ban cell use during instructional time, and I stand by that,” Degenfelder said. “I think that it’s appropriate to take cellphones out of classrooms, and what we find is that kids thrive.”

Closing statements

In closing remarks, Bien emphasized his experience as an outsider candidate.

“I am the only outsider in this race, but I am the only one who’s got an inordinate amount of leadership experience,” he said. “Folks, you deserve a government that you can trust.”

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Degenfelder pointed to her endorsements from President Donald Trump and U.S. Rep. Harriet Hageman.

“I get asked a lot, ‘How did you get the Trump endorsement?’” Degenfelder said. “The answer is really simple. I earned it.”

Alongside other candidates, Bien and Degenfelder will be competing for support in Wyoming’s Republican gubernatorial primary Aug. 18.



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