Short beef; Long grain.
Something about this doesn't seem particularly sustainable to me, given that livestock represents such a major source of grain consumption. But in the meantime, farmers are going for the (fields of) gold.
Financially beleaguered cattle producers in Manitoba are selling off their herds and switching to wheat, capitalizing on soaring grain prices.
Martin Unrau, president of the Manitoba Cattle Producers Association, is just one of hundreds of ranchers expected to sell off their animals this year and put their fields to work raising grain.
That would seem to set up a fierce backlash. There will be supply driven cheap prices for meat now and shortages later. Stock your freezer.
Posted by: Fredex | April 16, 2008 at 06:28 PM
Wouldn't you want to pair this trade the other direction? If more people are planting grain and less raising cattle, then why wouldn't prices move in the other direction. If you take a look at soy for example, it's seen its price rise as more farmers have planted corn instead. I don't really pay very close attention to this, so it wouldn't surprise me if I had this backwards, but the contrarian in me would pair this trade in the other direction.
Posted by: Davis Freeberg | April 16, 2008 at 09:53 PM
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