Some market analysts say drought right now will force beef prices up in about a year's time. This would be a result some of producers out west selling off parts of their herds because the drought has left them scrambling to find feed.
Analysts say there's enough beef on the market right now, so consumers won't feel how thin the herds are for a little while. But while we're seeing one of the lowest cattle inventories in 50 years, Manitoba Beef Producers president, Heinz Reimer, says producers are actually slowly starting to rebuilding their herds.
"There are still some areas where guys are starting to increase, but I mean, it will have a lot to do with the person's facilities and whether they can handle more cattle or not," he says. "[But] I don't think we're seeing big increases."
Source : PortageOnline