We’re once again digging out from a very cold blanket Mother Nature threw on us again last night. We still had about 4 inches on the ground got another 4 inches of new snow and it’s been falling most of the day.
Feeding cattle in this is a mess, and a few other 4 letter words. But while at lunch today, I saw a little good news on my Twitter account thanks to the fine people at AgriNews.
“As the economy improves and new jobs created, cattle prices will come into their own and challenge all-time historic highs. Cattle may have been one the worst-performing markets the past few years, but it is on the cusp of being one of the upside leaders in the New Year.
Cattle values will be underpinned by the cold hard fact that the U.S. beef breeding herd is the smallest since 1971, while the hog breeding herd is the smallest since 1964. And poultry numbers are tightening as the egg hatch — the number of eggs placed in incubators each week — is the smallest quarterly average since 2002.
A potent mix of fundaments is brewing, setting the stage for a rip-roaring bull market with livestock prices.
It is no stretch to predict that a shortage of beef, pork, poultry and dairy at the same time is on the horizon. American consumers are soon to experience what economists refer to as “protein inflation,” a scenario not seen since the early 1970s.”
Wow want to read more of what they’re saying click here. It's worth your time. And if you're fighting snow, ice and mud like we are it will make your efforts seem a little more worthwhile.
The meat industry has weathered a few perfect storms recently to bring prices down. It would be nice to see that storm work to push prices upward. And with analysts from Goldman Sachs and Wells Fargo singing the same song, I’m resolved to feel hopeful this year.
Ten years later: the rest of the story - This morning I found myself in a reflective mood thinking back to mid-July 2008 and one of the most hectic weekends of my life. I blogged about it at the t...