Shown in the papers here, I think it was a couple of days ago, I went on the Brussels Livestock Market website and I printed off prices of beef cattle. It's on page 3. I've written in the prices that I got from my grandma and grandpa's income tax books from 1988.
As you can see--once you get your sheets--it says that in 1988 my grandma and grandpa sold 18 Simmental steers. They averaged 963 pounds each and they got 84¢ a pound. Today, out of the Brussels Livestock last week, top-quality stocker steers were averaging 900 to 1,000 pounds at 92¢ to 98¢ a pound—a little bit of an increase. Also, back in 1988, my grandma and grandpa sent away 10 cross-bred heifers averaging 963 pounds, and they got 81¢ a pound. Today, in 2010, top-quality stocker heifers are averaging about 84¢ to 97¢ a pound—not much of an increase.
It just goes to show that in 1988 versus today in 2010, there's not much of an increase in the price of beef. On the other hand, there is a great increase in expenses for farmers. In 1988 grandma and grandpa spent $1,500 on fuel—gas and oil—for farm use. Today you can spend upwards of $5,000 or more, depending on the situation.
Another expense that's kind of interesting to point out is fertilizer. In 1988 my grandparents spent $321 per tonne; a few days ago it was $644 per tonne. That's a big increase. It's actually fairly good compared to last year.
I don't see why any young farmer would want to invest in an occupation that costs money. When your income is a lot lower than your expenses, it's not a profitable business. That's what I see. I don't see many young farmers wanting to get into a business that you have to spend money to make none.
If you want, you can look at this income book. I could pass it around. There are two of them, if you're interested.
And that's almost all I have to say.