Costly Cattle
03/05/2014 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist
After years of drought, the US cattle herd is the smallest it’s been in decades. To that add an unexpected drop in feed prices resulting in farmers holding on to females to breed animals and rebuild herds, and you have bullish prices. Cattle futures are up 10% this year, retail beef hit a record $5.01/pound in January and spot cattle is $1.52/pound. Arugala, asparagus or avocado anyone?