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Michael Miller, National Cattlemen’s Beef Association SVP of global marketing and research, on the impact of the drought in the Midwest on food pric...
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Yeah.
Well the -- to 2012 has been brutal it is affecting more than 60% of this country coal prices have hit record highs as Jeff Flock showed us in -- could have an impact on cattle prices and ultimately.
What you pay for believe joining us now is Michael -- he's senior vice president of global marketing -- recess for the national cattlemen's beef.
Association.
Michael thank you for joining us.
When -- we gonna stop seeing the effects of this -- cattle prices and more importantly at the grocery store.
-- because because I think -- that consumers are not likely to pay more for steaks and burgers this weekend and they did last week and because the draft report prices.
But longer term we're certainly watching the effects of the of the dry weather in the increase in -- prices that it relates to.
The overall profitability of the industry and the impact that it can have both producers and overall supply in the long weren't so I think -- it's probably.
More than likely later this year on end of next year before -- there's any potential impact on consumers.
And this I mean -- I'm not cattle around just signed on little ignorant when it comes to this court is a big -- of the -- that they are given is that correct is there any alternative.
Well great -- they will be making those tradeoffs decisions but Cortes is certainly.
An important component of the -- that they're given.
You know a lot of cattle spend a lot of their lives down on grass and what we we certainly have plenty of that around although it's been impacted by the drought as well.
So that that the short term impact evolve it is that it's gonna have a negative impact on on some of the some of the prices that are paid for for cattle at the producer level.
Have you seen a drought like this ever before.
Well it's been along time you know we've we've we've had a an impacted throughout this kind of been mobile and moved around the country for the last several years last year we we spent an awful lot of time focused on the state of Texas and its impact -- This went a little bit different now that it's moved up into the corn belt tightening you know of course Cortes is such an important component both to -- agricultural.
Economic activity but it -- the economy and in general as well also it's it's just a little bit different and a different kind of a conversation here in 2000.
Twelve and quickly Michael we've talking about tech cattle but what about so -- come poultry could -- could those prices ultimately be affected as well.
Well they certainly may be and again it's it's -- -- be -- kind of the short term the short term is that the production system will take the brunt of it.
But those production systems could be an impact no longer term of the consumer level as we you know made it all depends on how long these these high prices -- -- and how long they last.
Right rather time Michael Miller thank you so much for joining us we appreciate it looks like consumers.
May start seeing an impact was the end of the.
