The concept of "short-bought" has long been a standard entry in the cattle lexicon, right up there with "fleshy," "green" and "typey."
If commodity prices are in a steep downtrend, it can describe a coveted position regarding physical inventory. But if values are screaming higher, "short-bought" may seem like an absolute curse.
Think of Bedouins taking their first steps across the Arabian Desert with leaky canteens.
Beef processors and retailers once thought they knew all about the short-bought game. But the extraordinary summer of 2014 has taken the procurement strategy/awkward necessity to a whole new and frightening ...