Nonsense. Ever heard of DDG’s?
you think that you get more DDG than the grains input into the process? This byproduct isn’t a replacement for the cereals that are consumed.
DDG’s limited the cost impact for feedlots, but it’s no coincidence that after beginning a cyclical expansion in 2005, the U.S. cattle population quickly reversed course in 2007 (after peaking at 97 million on Jan 1, of that year) and the next liquidation phase didn’t end until sometime in 2013. Admittedly, drought extended the contraction, but there’s no doubt that a lot of small ranchers and cow-calf operators exited the business, while Midwest grain farmers made out like bandits.