I'm kinda glad there's been a 'correction' now rather than another year of record, stupid high prices where packers would shut down, and then suddenly we're all really screwed..
What I know for sure is *SOMEONE* is making money right now.. it might not be you or I though.. I think a steady $2-2.50/lb for 5wts would be about right, both in terms of the producers, and the consumers.. I got $1400 for a 385 lb steer last fall.. it was just stupid (I don't think the buyer made much money on him yet)