3-14 IAN Beef Up

 A great yet very candid discussion with the executive director of the Idaho Cattle Association.

 It’s always great to be able to talk to somebody who shoots straight from the hip and I have the pleasure of regular conversations with Wyatt Prescott, Executive Director of the Idaho Cattle Association. We were talking on the phone about the cattle industry being in good shape when I had a question. So listen in and I think you have fun: “Speaking of that you are saying that the industry is in good shape. How so when I am under the impression that beef prices are going to skyrocket because of shortages brought about by Texas droughts and so on? Talk about that. ( Long pause) Talk about what? ( Laughter) Beef prices going high. That makes cattlemen happy but what about consumers? Yes things will get a little tighter in terms of supply because they have been contracting all year long  which inevitably will drive the retail price of beef up but the driver in all of that higher price back in the retail market is the limited supply. Driving catalysts in  that are things like limited access to public lands, ridiculous government policies that raise the cost of feed which makes it higher and harder for cattlemen to make those margins come out positive. This results in a shortage in the grocery store and they are playing catch-up, that is why the industry is seeing more of a positive margin and that is why the consumer is having to pay more for their beef.