According to the U.S. Department of Agriculture, the latest cattle report shows the market has contracted to levels not seen in years, with total inventory dropping 2% to 98.8 million head since July 2021. National Cattleman’s Beef Association CEO Colin Woodal told FOX Business, “It’s all about costs. When you look at those who make a decision to send their cattle to market to either thin down their herd or completely eliminate their herd, it is always going to be attributed to the increase of their input costs. And that is everything from the cost of feed, cost of hay and cost of diesel for tractors, diesel for the truck, fertilizer costs.”
