Sometimes it's worth considering what really drives prices in agriculture.  It's retail purchases from a few weeks to several months ago.  The price of beef is a response to supermarket demand.  If the shelves are empty and the warehouse is out of steak the price will go higher the next day.  If the store can't get rid of its inventory,  the price will drop,no matter what the store paid for it.  Those are short term price adjustments.  Long term works the same way, but the price and supply of competing foods, whether chicken, pork, or cheese plays into the mix as well.  The point of all this is a reminder that wild price swings will eventually settle out into the overall trend, and trends can last from a few weeks to several years.  That won't help you decide what you should buy or sell today, but it is worth keeping in mind when planning for the long term.  The retail consumer pays the store, the store pays the warehouse, the warehouse pays the packer, the packer pays the feeder, the feeder pays the cowman, and the cowman pays  the bank and the feed mill and the farm supply, and everyone else involved in his business and himself.

Whether there is enough for everyone depends a lot of what meat sold for six months ago.