America's beef supply is expected to shrink as drought and rising production costs prevent ranchers from growing their herds



Beef prices are likely to continue rising as U.S. based cattle ranchers continue to shrink the size of their herds.

This move is expected to further constrain U.S. beef production in the coming months, the Wall Street Journal reported. Data from the federal government confirms that rising costs for feed and other expenses are encouraging ranchers to sell to sell calves into feedlots around the country at a faster rate which leaves fewer cattle available for slaughter. It is expected that this will become more pronounced later this year and into 2023.

Persistent drought conditions throughout the Western U.S. have decimated grazing pastures which causes cattle farmers to spend more money on supplemental feed which presents another major problem for the beef industry.

By 2023, beef production is expected to decline by 7% and cattle prices are expected to increase to record highs. These increased costs and shrinking supply pose serious problems for meatpackers like Tyson Foods Inc., JBS USA holdings Inc., Cargill Inc., and National Beef Packing Co. It is likely that the increased cost of beef production is already being passed onto consumers. The more expensive it is to raise and maintain cows, and as fewer cows are raised for slaughter, the more expensive beef products will eventually cost. Ground beef and chicken prices have already reached all-time highs.

Jeanie Alderson, a fourth-generation rancher in Birney, Montana, said that she sold about 75 aging mother cows from her heard of around 250 in recent months. Typically, Alderson would buy new cows in the spring to replace the ones she sold off but she said that it has been too expensive for her to take any more into her herd this year.

Alderson indicated that wildfires in the southeastern portion of Montana are burning up the pastures where her cattle typically feed and that some of her fellow Montana ranchers have had to spend more money on expensive livestock feeds. These additional expenses and hardships are causing ranchers to reduce the size of the herds.

Alderson said, “It’s really stressful. A lot of ranchers are in deep, deep debt and if they have to go more in debt, some people will go out of business in the next few years.”

Drought conditions and higher operating costs encouraged ranchers to rapidly cull beef cows in the first quarter of 2022, according to the U.S. Department of Agriculture. Iowa State University estimates that American cattle producers have lost money five of the past eight months.

Zelenskyy says he will continue pursuing peace despite atrocities committed by Russian forces



Despite the potential war crimes carried out by the Russian military on the people of Ukraine, Ukrainian President Volodymyr Zelenskyy said that he would continue to push for peace.

The New York Post reported that Zelenskyy said, “No one wants to negotiate with a person or people who tortured this nation. It’s all understandable. And as a man, as a father, I understand this very well.”

Russian President Vladimir Putin has been intensely condemned for possible war crimes carried out by the Russian military that were uncovered as its forces withdrew from the areas around Ukraine’s capital city of Kyiv.

As they regained ground in the areas surrounding Kyiv, Ukrainian forces uncovered mass graves filled with civilians in the suburbs surrounding the city. They also found surface streets littered with the corpses of civilians.

Many of the slaughtered civilians bore marks of torture and execution. Civilian bodies were found with their hands tied behind their backs, and many had seemingly fatal gunshot wounds at the base of their skulls.

Russian forces have also bombed civilian gathering places such as train stations and medical facilities.

Zelenskyy said, “We don’t want to lose opportunities, if we have them, for a diplomatic solution.”

He added, “We have to fight, but fight for life. You can’t fight for dust when there is nothing and no people. That’s why it is important to stop this war.”

The Russian forces that withdrew from Kyiv are currently believed to be regathering in preparation for an attack on Donbas in Ukraine’s eastern region.

Zelenskyy said that Ukrainian forces currently fighting their Russian counterparts in the eastern regions of Ukraine are in “the heart of the war.”

He said, “It’s beating. We’re fighting. We’re strong. And if it stops beating, we will be in a weaker position.”

Zelenskyy is reportedly frustrated with the lack of military equipment being supplied to Ukraine by the U.S. and its allies in Western Europe. He indicated that he was grateful for what had been done for his country but suggested that much more needed to be done by the wealthy nations allied with Ukraine.

He said, “Of course, it’s not enough,” when asked whether the supplies his country had been given up to this point was enough to turn the tide of the war in Ukraine’s favor.

Despite Zelenskyy’s insistence that he is actively working to make peace with his Russian adversaries, when presented with the opportunity to make peace in mid-March he rejected the offer.

Israeli leadership, serving as diplomatic emissaries, conveyed to Zelenskyy that if Ukraine were to alter its constitution in a way that permanently committed the country from joining NATO, recognized Crimea as Russian territory, and recognized Donetsk and Luhansk as independent states, then Russia would end its invasion of Ukraine.

An Applebee's franchise executive was fired after suggesting runaway inflation and increasing gas prices are good for business



An Applebee’s franchise executive who suggested via email that high gas prices could force employees to work longer hours for less pay has been fired.

In an email chain titled “Why gas increase is good for hiring,” Wayne Pankratz told his colleagues that: “As inflation continues to climb and gas prices continue to go up, that means more hours employees will need to work to maintain their current level of living.”

Pankratz is an executive with American Franchise Capital, an investment firm that owns and manages Taco Bell and Applebee’s restaurants in nine states. The company’s annual sales are over $200 million, the New York Post reported.

Pankratz explained to his colleagues that due to the federal government no longer providing stimulus checks to the public and small business having immense difficulty offering workers competitive wages, Applebees has “more potential employees” in the “hiring pool.”

His email stated, “Other competitors (especially mom and pop companies or smaller businesses),” will have to either raise prices, cut employee hours, or pay employees less hourly to lift their profit margins. Some businesses will not be able to hold on. This is going to drive more potential employees into the hiring pool.”

He said that current labor market conditions give the company a chance to hire employees “at a lower wage.”

In his correspondence, Pankratz said, “Most of our employee base ad potential employee base live paycheck to paycheck. Any increase in gas cuts into their disposable income. As inflation continues to climb and gas prices continue to go up, that means more hours employees will need to work to maintain their current level of living.”

“We are no longer competing with the government when it comes to hiring,” he continued. “Stimulus money is no more, supplemental unemployment is no more. This benefits us as prices rise, people who [were] relying on unemployment money, simply will have less money to spend. It will force people back into the work force.”

On Saturday, the New York Post reported that the statements Pankratz made were leaked to the manager of a Missouri-based Applebee’s franchise owned and operated by American Franchise Capital.

Jake Holocomb, the manager in question, printed out copies of Pankratz’s emails for servers to find and gave everyone that came into the restaurant that same day free meals.

He said, “I gave everyone in the restaurant their food for free and we just left; we didn’t even close the store,” the Associated Press reported.

Applebee’s Chief Operations Officer Kevin Carrol said that the views expressed by Pankratz were his and his alone.

He said Pankratz shared “the opinion of an individual not Applebee’s.”