Prices Tumble

I have noted that the price of calves has taken quite a tumble in the past couple of weeks and I wasn't sure why. Now I see why. The financial crisis is causing more troubles.<br />n<br />n<a href="http://www.reuters.com/article/reutersEdge/idUSTRE4906MH20081001?pageNumber=1&virtualBrandChannel=0">Cattle ranchers feel pinch of credit crunch</a><br />n<br />n<blockquote>CHICAGO (Reuters) – Tight credit and high wheat prices are preventing ranchers and farmers from placing their cattle at feedlots and from grazing them on wheat pastures, which could continue to weaken prices for the animals.<br />n<br />nThe credit crisis has made it tough for ranchers and farmers to place their "feeder" cattle at feedlots to be fattened on corn and other feed before slaughter, with deposit requirements doubling in some cases to 40 percent of the cost.</blockquote><br />n<br />nDamn, this could cause a lot of problems for people who haven't sold their calves yet. It really makes me wonder if I made the right decision to hold on to all the heifer calves. Maybe I should have sold some of them earlier. Maybe the credit crisis will straighten out and by next year the heifers will bring good money. Maybe the economy will go south so far that their will be no demand for beef and the heifers will be worthless. Damn, what a mess.