Date of this Version
The inventory of all cattle and calves reached a 50-year low at the end of 2008. Pork producers reduced the size of the breeding herd late in 2008. Imports of feeder cattle, feeder pigs and slaughter cattle and hogs from Canada have dropped dramatically since the fourth quarter of 2008. And, never before seen drops in broiler production occurred in the last few months of 2008. With production of nearly all sectors of the meat industry lower than year-ago levels, why haven’t livestock prices rallied in response? The economic times we’re in have reduced demand. People haven’t been willing or able to consume more beef and pork at higher prices.