They raise a lot of the beef they sell. He says cattle numbers in the US are the lowest they've been since 1951, and I don't see how they are going to go up anytime soon. As he noted, when you can sell a market weight heifer at these prices, it makes no sense to keep her, breed her, and have a market weight animal to sell in two years.

Add in drought in the west parts of the south, debt getting more expensive, and disease problems, it's not a good picture.