End of peak in US cattle farming

CATTLE farming may have peaked “forever” in the US, according to an industry leader. Higher input costs will force ranchers into long-term herd reduction, processors will reduce excess capacity, and consumers will pay more for beef, said Dick Bond, chief executive of Tyson Foods Inc, the largest US meat processor.

Speaking at the National Meat Association’s 62nd Annual Convention, he blamed “almost criminal” government mandates supporting ethanol production, which he said have doubled the cost of feed grains.