And talk about limited supplies! The USDA released their semi-annual cattle data recently and the news was sobering with the herd declining to its lowest level since the Los Angeles Rams won their second NFL championship in 1951. As the chart shows, we have entered year six of the herd decline. The prior two herd decline periods suggest that the current herd decline will continue. Hopefully more favorable weather will buck the trend in 2024. Regardless, beef supplies will be tight...but you knew that already.