Let me begin by stating that, in my opinion, the money in agriculture over the next several years, say seven to 10 years, will be made in livestock production more so than in grain production.
U.S. beef production is headed lower for several years. The herd in Australia is down due to drought. Brazil is rapidly converting pastureland suitable for cattle grazing to row crop production.
U.S. pork production will likely peak this year in response to sustained losses in the industry. Pork production in the EU is sharply lower due to aggressive culling for various reasons including the spread of…
