date:May 04, 2012
one thing putting the brakes on cattle running back to $130 per hundredweight, it would be the higher gasoline prices, Penner says. If people are spending $4 to $4.50 per gallon on gasoline and it costs $120 to fill up their Ford Explorer this summer, they won't be buying steaks.
Still, weather could play a big role on the direction of this summer's cattle market, Penner says. As the Texas agricultural industries recover from $7.62 billion of drought-stricken losses in 2011, all eyes will be f