This. It has zero to do with the price of private land grazing or BLM grazing. Meat prices, fat cattle prices, weaned calf prices are all set by the wild supply swings in the market, the price of feed in the form of corn or hay, as well as the direction of the wind blowing at the packing plant.
As much as some people want it to be true, nobody is getting rich because they are saving a few bucks per cow calf pair on a BLM lease. It’s just not true.
You're conflating two things - cost and profit.The price of meat is decided by supply amd demand. Has nothing to do with input cost.
You state the price of meat is based on supply and demand, true.
Then it seems you stretch that to mean nobody is making profit because of the low input cost.