Risk grows with price

摘要

"Record-high prices do not mean record-high profits. The amount of risk is intensifying." That's how Randy Blach, CattleFax CEO, summed up the current business environment during that organization's Outlook held in conjunction with the Cattle IndustryAnnual Convention and NCBA Trade Show last month. Just consider those eight-weight feeder steers stepping off the truck at about $1,000 a pop, or their five-weight counterparts at around $700. Blach explained that feeding cattle today requires access to 84% more capital than in 1995.