A study by Lee Schulz, associate professor, was cited in a June 3 Beef story, "Beef industry outlook in post-COVID-19 world."
Tonsor and Lee Schulz, agricultural economist at Iowa State University, recently estimated carryover of fed cattle at 485,000 to 510,000 head May 1 and at 1.07 million to 1.34 million head June 1. So, the rationale is understandable.
Schulz was also interviewed for a June 11 This is Money.co.uk story, "Meatpacking rebounds but high prices and backlogs to persist."
Grocery stores, which absorbed some of the meat price increases this spring, also may not pass along all the price cuts as they try to restore their profit margins.
"Don´t expect prices to fall in half just because wholesale prices have declined dramatically," said Lee Schulz, a livestock economist at Iowa State University.
This story also covered in:
Globe Gazette, June 13
The Bulletin, June 13
WOWO radio, June 14