Tuesday, November 9, 2010
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Broken Markets, Broke Cattlemen, Bad Statistics, Worse Economics
"It's interesting that Speer cites about 10 economists who have, themselves, cautioned the industry against tying contract prices to the cash market," Bullard concluded. "As Dr. Taylor points out, based on relative returns, a common-sense "country doctor of economy' would declare the meatpackers and food retailers to be "healthy, bordering on obesity,' but cattlemen as "sickly' and in need of major corrective treatment."