Inter temporal shift

Inter temporal shift

David Sparks Ph.D.
David Sparks Ph.D.
Economists tell us that in the beef market… “We're seeing an inter temporal shift.” Yes, I understand that perfectly. That's USDA Acting Outlook Board Chairman Mark Jekanowski and what about this interpersonal temporary rift… “inter temporal shift” Yeah, that thing.

Now BEHAVIORAL ECONOMICS expert Daniel Liberto says Intertemporal choice is an economic term describing how an individual's current decisions affect what options become available in the future. Theoretically, by not consuming today, consumption levels could increase significantly in the future, and vice versa.What exactly does inter temporal shift mean?

“Higher production in the first half of the year? But we expect that to reverse in the second half of the year. Production will slow down, but still on net, you know, a modest increase in beef production” …Just about a 1 percent increase in output this year at almost twenty seven and a half billion pounds.

Now, last month, USDA was projecting steer prices this year to be above 2019, but not anymore. Analysts have chopped half a dollar off their previous projections, taking prices down to “$116.75 a hundred weight”. Three cents below last year's average price.

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