Beef Production in the New Era of Higher Prices and Higher Costs:
Do the Old Rules Apply?
John D. Lawrence, Extension Livestock Economist, and Director, Iowa Beef Center Iowa State University
Genetic progress in multiple traits is difficult when the goal is clearly defined. It is even more difficult if the goal is a moving target due to changing consumer preferences or producer-cost structure. Commercial beef producers recognize that genetic decisions should be based on long-term profitability, but they live in a short-term world where profitability varies widely from year to year due to fluctuations in input and output prices. Fed cattle prices averaged under seventy dollars from 1988-2002 and averaged over eighty-seven dollars during 2003-2008.
