Cattle Prices To Moo Higher Still

One reason so many folks are skeptical about inflation easing anytime soon is the sticker shock signals they keep getting at the grocery store. Now, we’re told beef prices are set to surge even more as farmers sell off cattle herds amid soaring input costs & ongoing drought conditions.

According to Fox Business, “the latest cattle report from the US Department of Agriculture shows that the market has contracted to levels not seen in years, with total inventory dropping 2% to 98.8 million head since July 2021.” But, the problem apparently isn’t just that fewer cattle are going to the butchers, it’s their SEX. Explains Fox: “There is a notable boost in calf-producing females getting sold for processing in addition to steers, which are typically favored for consumption.”

In fact, the number of females in feedlots is up 3% and existing herds are down about 2.7% from a year ago. USDA livestock analyst Shayle Shagam said that combination means “supplies of cattle going to feedlots is going to be declining,” resulting in “progressively tighter supplies of all fed cattle available for slaughter as we move into 2023.” Wanna bet Team Biden didn’t see one coming either?

Davd Soul