- America’s cattle herd has reached its smallest size in 70 years, significantly affecting the beef supply chain.
- This reduction in herd size is attributed to factors such as prolonged drought conditions and increased operational costs faced by ranchers nationwide.
- The decreased availability of cattle is leading to a notable rise in beef prices, which have already increased by 16%.
- The current situation suggests a slow recovery for the industry, with high beef prices anticipated to persist for several years.
- Consumers may experience elevated prices for beef products as the industry grapples with these supply challenges.
- The combination of environmental and economic pressures underscores the vulnerability of the cattle industry to external factors.
Source: https://www.foxnews.com/politics/americas-smallest-cattle-herd-70-years-means-rebuilding-take-years-beef-prices-could-stay-high)
