Changing demographics have made food service about equal in size to food retailing. According to the Cattlemen’s Beef Board, beef remains the number-one protein served in restaurants. fast food accounted for more than 43% of all beef served in commercial restaurants in 2008.
Feeder cattle sold $3-$7/cwt. lower and calves traded $5-$10/cwt. lower as cattle futures and cash fed cattle prices struggled beneath the weight of neagative outside markets and unseasonably cool weather.
Though recent moisture makes it tempting, producers need to be careful about grazing pastures too hard. Any lost forage production during the critical growing season over the next three months will jeopardize prospects for the remainder of the year.
The retail landscape changed dramatically during the last few decades, with massive consolidation on one hand, and non-traditional retailers entering the fray on the other. Both have taken market share from traditional independent grocers.