Definitely, and I agree it's good when everyone is making money. It's just an ever changing market, and almost impossible to predict long term. I had lunch today with a buddy of mine who is a fat cattle buyer for one of the major packers. Last info from his boss was they were losing $126 for every head they slaughter. Demand for beef was slipping and fat cattle prices are high. Now even he will admit that they stretch that number, but the truth is, the packers probably are losing some money with these prices. At some point it has to go the other way, and it will. Fat prices will fall, which means feeders won't be able to afford these corn and calf prices, and they'll both soften and prices will fall too. When, who knows, but it will happen. How low, is hard to guess because at this point it's hard to tell how much of the rise is due to demand, and how much is due to good ole fashioned inflation. That's just my take on the matter though. David
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