In the era of the $100 steak, WSJ reporter Patrick Thomas traveled from a steakhouse in Omaha to a manure-splattered cattle auction in the Nebraska sandhills. What he found was a story about drought, debt and a stunning reversal of fortune that has left America's ranchers holding more power than they've had in decades. Ryan Knutson hosts.

Further Listening:

- The Beef Between Cattle Ranchers and Meatpackers 

- How Scotts Miracle-Gro's Weed Business Went Up in Smoke

Sign up for WSJ’s free What’s News newsletter.

Learn more about your ad choices. Visit megaphone.fm/adchoices