DOOM? You want DOOM??? This time next year, beef will be too expensive to eat. | |
Digital mix guy User ID: 8754836 United States 08/02/2012 11:17 PM Report Abusive Post Report Copyright Violation | |
telling it straight User ID: 1461054 United States 08/02/2012 11:20 PM Report Abusive Post Report Copyright Violation | More on what's happening with cattle as a result of this drought ; [link to online.wsj.com] CHICAGO—The U.S. market for young beef cattle is feeling the heat of a historic drought. Faced with seared grazing pastures, ranchers across the U.S. who can't afford to provide food and water to steers and heifers are rushing to sell them. But the usual buyers, sprawling feeding operations called feedlots, are scaling back as the price of corn—given to cattle to fatten them up—is soaring as crops wilt across the Farm Belt. 'You can't make it work,' says a Kenai Capital floor trader. Above, feeder cattle are wrangled at an auction in Missouri in January. The combination of a glut of supplies and deteriorating demand last month drove the prices of "feeder cattle" to the lowest level since September 2011. The animals bought and sold on the feeder-cattle market are still too small to be slaughtered for beef, unlike their bigger brethren in the more heavily traded "live cattle" market. |
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