Despite tremendous market fundamentals, the weather prospects for spring and summer 2013 make for a lot of industry anxiety.
A producer who walked out of the CattleFax outlook session last week in Tampa, FL, called me upon exiting the session. He recounted the great fundamentals, all the opportunity, and all the risks discussed by the speakers. The irony is that this industry is sitting on a set of tremendous fundamentals, but with two massive dark clouds overhead – the drought and the macroeconomic conditions. He characterized it as sitting on the top of hill and waiting to see if you get hit by the lightning before the rain starts. I thought that was a pretty accurate description.