|
There's even bigger rumblings coming out of the packing industry. Look for two more of the big ones to make announcements soon. If 25% of the pork lines are at full stop for any length of time, people will notice.
There are still no bids at all for live cattle right now in large sectors of the country. There's only one thing that happens to finished steers, they die. One way or the other. If they don't get the chain under control soon things will get ugly. Cattle of all ages have been backed way off in an attempt to reign things in from the supply side, but it's not a train that just stops over night without serious consequences. Pack owned cattle are being pulled forward while independents are left holding their own.
You're also going to start seeing some nasty headlines and mass euthanasia claims if reporters are brave enough to dig into it. Not to mention the bankruptcies that will follow as contract clauses get invoked.
|