Source: Ranchers Put More Cattle In Feedlots as Drought Cooks Pastures – Bloomberg (Paid subscription required)
Beef prices are set to rise as ranchers cull herds in response to a variety of inflationary pressures (costs of feed, fertilizer, fuel, etc) and drought conditions limiting access to water and grass.
We are at a possible inflection point where true beef will cost on par or more than fake meat products now in the market. Regarding the latter, influencers like Bill Gates have bought hundreds of millions of acres of farmland that produce the inputs to manufacture fake meat products. There is pressure to push all into consuming fake meat products. In the Netherlands, the government has proposed rules that would shut down thousands of small farms and cattle operations.
