According to the latest report from the USDA, the number of beef cows in this country has fallen to the lowest level since 1962.
Don Roose, the founder of US Commodities, a grain and livestock investment and management firm, recently warned:
“We’re still in the contraction phase.”It takes a long time to build a herd back up again.”
Meaning beef prices at the supermarket might go much higher until demand destruction hits.
However, there is some good news. Global food prices have slid for the eleventh consecutive month. And it gets better: wholesale egg prices collapsed in early February.