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High cattle prices aren’t a victory — they’re a warning. America went from roughly 6 million ranches to about 700,000. Not because producers forgot how to ranch, but because volatility and consolidation wipe out anyone without protection. This system rewards those who can hedge, vertically integrate, and survive downturns — and destroys independent producers who can’t. The next market correction won’t “reset” things. It will finish what’s left unless structure replaces volatility. This isn’t abo
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