Beef Shortage Means Hold on to the Cows
The quantity of beef available to consumers in the U.S. has declined a startling amount in recent years and that trend is going to continue, according to a blog post by Purdue University agricultural economist Chris Hurt.
“The declining supplies are related to continuing liquidation of the cow herd in the past few years due to high feed prices, a weak U.S. dollar that is spurring beef exports and, of course, drought in the Southwest and Southeast,” Hurt wrote. “Declining supplies will support prices across the cattle complex at new record highs in 2011 and again in 2012. Unfortunately, even higher retail beef prices can be expected for consumers.”