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To date, Eastern Livestock Company owes $130 million to 743 sellers in 30 states.
In W. Edwards Deming’s theories of management, there is a basic tenet that strikes me as immutable: You can’t inspect quality into a product; you must build quality in throughout the production process.
On the topsy-turvy roller-coaster ride of cattle prices this past year, one thing that most economists agree on is that the cattle industry remains in a strong position going into 2011. Cattle supplies continue to be at their lowest while demand is steady. The one monkey wrench in what could be a great year for cattle producers is high feed costs.
The association asks USDA and the U.S. Small Business Administration for financial assistance for cattle producers.
But hedging breakevens in fat cattle getting difficult given the current price of feeders and grain.