>>>The U.S. cattle herd in July was the smallest since 1973 and the number of breeding hogs last month was near the lowest ever, government data show.<<<
There’s the culprit.
The corn crop for this year is targeted to be at record, or near record levels, just like very year prior... and it’s not due to ethanol production either. Ethanol is food AND fuel.
Simple supply and demand - the article itself tells it: smaller herds = lower supply to market = increased prices.
Yes, Keith in IOWA!, but the herds are smaller because the price of corn is so high. Yup -- ethanol -- takes about 4 billion bushels each year out of the food supply.
Like you said: supply and demand.