I just saw something on my local news that I thought I would share as it seems pertinent to whats going on right now out there. Rising beef prices. Beef is up 20%, and they say theres no relief in sight. The nations beef cattle population is at 87.7 million - the lowest since 1951. A year when there were about half as many mouths to feed in America. My local news (KSBW 8) cited lack of water and DWINDLING GRAZING LAND as reasons for this shortage of cattle and rising cost of beef. Yet here we are taking more grazing land away. Now Im not sure exactly what cattle futures are in terms of commodity but Cattle futures reached an all-time high of $1.46825 a pound on March 5 on the Chicago Mercantile Exchange, up 25 percent from last year’s low in May. And the Wall Street Journal says that in February, beef has made its highest price increase since 2003 and its mad cow scare. Every source that Ive read (that lists any sort of reasoning for the price hikes) cites lack of water and grazing land dwindling and being developed. And all I searched was rising beef prices on Google.
Posted on: Thu, 10 Apr 2014 01:42:16 +0000
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