Growing up and living today on a cow-calf operation in ranch country by Vale, South Dakota, I heard the phrase “All Hat, No Cows” used to describe guys wearing Cowboy Hats with tennis shoes and working their town jobs every day. Today, the exact phrase applies to a large part of our guests at the Black Hills Stock Show and Rodeo in Rapid City. However, the cowboy cosplay has expanded beyond the hat- with folks buying diesel pickups that will never pull a horse trailer sporting a fictional cattle brand on the door, new leather gloves on a belt that will never twist barbed wire, and shiny spurs that will never touch a horse. The Stock Show attracts all kinds of people who adopt a western style and personality for two weeks every year, as Rapid City hosts the second-largest event in South Dakota after the Sturgis Motorcycle Rally.
Good cattle prices are usually harder to find than the Epstein Files. This last fall, reasonable cattle prices were easier to find than corrupt politicians. The cattleman made money, not just breaking even, but was able to turn a profit, finally getting something for the fruits of his labor.
“All Hat, No Cows” comes to mind again, specifically with a different perspective. “No Cows” can be applied to refer to the National Cattle Herd as a driving factor in that profit. As of January 1st, 2026, our National Cattle Herd dropped to 86.2 million head. The last time numbers were this low was 1951. We’ve been losing almost half a million cows nationwide every year for the last few years. The Agricultural Sector has always been beholden to Supply/Demand. With soaring demand, fewer cattle today are sending prices higher. Those that have been in the game know that these prices aren’t forever.
Many of the problems in the Cattle Industry today stem from the separate but closely related Beef Industry. Four major companies (two based out of Brazil): JBS, National Beef, Tyson, and Cargill control almost 85% of the United States Beef Market Share. The meatpackers manipulated the cattle/beef market at both ends for decades growing this monopoly- often buying fat cattle for cheap and selling them in the store by the pound for record prices. These companies have done this for so long- the family farms around the country have become less sustainable, and since 2017, more than 100,000 small farms have gone bankrupt. The trend is clear: like most businesses, calculated growth is the only way to survive. In an atmosphere hallmarked by many outfits selling their replacement heifers for quick money- it’s hard to keep growing, or even sustain current cattle numbers. When the high prices fall, everyone will wish they still had those heifers.
As a Free Market Capitalist, trying to figure out what to do about the Beef Monopoly is difficult when “what to do” always comes at the price of business liberty. However, an 85% Monopoly in an industry owned by 4 companies that don’t like competition, puts the squeeze on ranchers and grocery store customers while recording higher profits every year. In contrast, cattle producers, small processors, and customers all keep going broke; it quit being a free market awhile ago. The right of someone swinging their fist stops when that fist reaches my face, and Big Beef has been punching a lot the last three decades. The realization that Free Market Capitalism can only exist with some guardrails and regulations must be true. Without some controls, we reach levels of Corporate Oligarchy that use vast money and resources to eliminate family farms and purchase representation in Congress to keep Big Beef rich.
A new focus on Antitrust Laws, which prevent massive mergers, prohibit price fixing, and ban bid rigging, can create a competitive marketplace again- sustainably. Consumers and Stockgrowers can work together to push for realistic and practical Country of Origin Labeling (MCOOL) to prevent Big Beef from outsourcing to foreign countries. Finally, consumers and cattlemen can eliminate middlemen and sell directly to their customers. After store shelves were empty during COVID 2020, many consumers decided they wanted direct links to their food.
The future can be bright for cattlemen and consumers, as long as they stick together.
About this Column: Collin Duprel is a fifth generation Meade County rancher on a cow calf operation. Former Congressional Candidate, Former Vice Chair of South Dakota Libertarian Party, Sturgis Brown High School & Dickinson State University Alumni, Father, Outdoorsmen, and Constitutional Enthusiast
Opinions by guest columnists for the Rapid City Post may not necessarily represent the views of the Rapid City Post, it’s affiliates, or advertisers.
