looks very likely that price of beef will go up, based on the drought related sales. of course if the economy is so bad that folks are making stews out of old shoes, that would hurt. looks to me that the powers that be have made up their mind to stay in power they will print money. they can print more money, but they can't print more beef by next summer. prices going up, maybe a lot.
I live in a cattle producing area of Texas, and I bought into COW. I talked to a trucking company owner who told me his shipments of cows are double the normal level, and there aren't many cattle left here. It may be 6 months or 1 year, but there will be far less beef produced. Also, feedlots feeding corn are paying highest price I've seen.