There has been a ripple effect in the markets that could mean more meat on the table and more summer barbecues for families in the U.S.
A drop in grain prices has lowered the cost to feed livestock, which has brought record growth in U.S. beef and pork production, according to Bloomberg.
Cattle prices have reached a five-year low this week, while the U.S. hog herd has gone up to the largest on record for this time of year. Feedlots sold nearly 9 percent more animals in June than 2015, according to a Bloomberg survey.
“That’s an awful lot of production coming our way,” Tim Hackbarth, senior market strategists at Zaner Group, told Bloomberg. “It all leans bearish.”
The increase in supplies and falling prices for burgers, ribs, pork chops and other grilling meats could mean more barbecues for Texans this summer.