(Natural News) I have confirmed with local cattle ranchers in Texas that large-scale herd liquidations are under way right now, with some herds being reduced by 80%.
This is happening due to the extended drought affecting Texas, Oklahoma and much of the southern and western United States. The drought not only reduces grass production on the fields being grazed by cows, it also causes hay production to plummet, reducing the future food supply that could keep cows fed through the fall and winter. As a result, the vast majority of cows in Texas are being sold for slaughter.
As I point out in today’s Situation Update podcast, below, this will cause a temporary glut of beef in the food supply chain which will lower beef prices in the short term. But after that supply glut is processed and shipped, beef prices will skyrocket as cattle remain in short supply for years to come. It takes several years of good rain to replenish cattle populations and bring beef prices back into an affordable range.
The upshot is that if you plan to eat beef anytime in the next 2 years or so, you’ll want to acquire it and freeze it over the next several months. By early 2023, beef will be skyrocketing once again.
This cattle liquidation is just the latest disruption to hit the US food supply which is already reeling under global supply chain disruptions, fertilizer shortages, diesel fuel price increases and extreme drought conditions. The hits just keep coming.