Hmmm . . .

“I believe the U.S. beef industry in totality is the most complex set of markets on the planet. It’s vastly complex just to get animals to the point of slaughter, because we produce them in multiple production sectors … we move them all over the country and in all sorts of environments. Then we get them to that point where we harvest those animals … we fabricate them … and then it gets really complicated because we turn those animals into many thousands of different products in markets that all interact with each other. When you put all of that together it’s just an enormously complex industry.” Derrell Peel, extension livestock marketing specialist at Oklahoma State University quoted in Cattle industry’s complex pressures and prospects, Debra Skodack, Ten, Kansas City Federal Reserve Bank, April 4, 2022.