The beef supply chain is moving product at a healthy clip. Front end of feedlot supplies have tightened especially in the north giving feeders the leverage they have long needed to take back some control. Packers have hefty holiday orders to fill and for the first time in awhile they are having to get out and about to compete for some cattle. While $1.40 fat cattle is no doubt a move in the right direction it doesn’t even begin to compete with the rising inflationary costs of inputs. So before we all break out the cowbell and have a party, let’s keep in mind the bottom line of the cash flow sheet and what it takes to get fat cattle to their end point. [READ MORE…]