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vived any one of these "adverse effects,” but the combination was "three times as bad.”
The high grain prices meant those who buy cattle to feed for the slaughterhouse had to cut down on what they paid so they could still make a profit feeding $5 com. NAFTA added to the heavy supply of feeder cattle, he said, as feeder cattle were imported from Mexico and Canada. "The idea was we could take the increase in feeder cattle, because Mexico would be developing a middle class with a taste for finished American beef, but that middle class hasn't developed yet, and that has had an adverse effect."
He said farmers have been "hunkering down" trying to survive the low prices. At the Fauquier Livestock Exchange calves sold in 1996 for the same price they were bringing in 1977. "How
96.9%