Allan Nation, the man when it comes to pastured finished livestock, blogs about Argentine farms in a perfect storm situation. I encourage you to go to this page and choose "Click Here for Allan's Blog" and read the short note entitled "Argentine Farming In Melt-down."
If you don't have time (it's a really short, easy read) the basic issue is this. Traditionally, Argentine ranchers rotated their grain crops with grassfed beef every few years. This allowed the ranchers to grow grain without the use of added nitrogen as the cattle naturally fertilized the pastures in the off years.
Last year, many looked at soaring grain prices and sold off their cattle to switch to grain-only.
Well, grain prices have dropped and it now costs more to grow the grain crops than the crops are worth. Combine this with some odd-sounding government policies to keep domestic beef costs artificially low and you have a real problem.
Allan doesn't come right out and say this so I will. Pasture finishing livestock can make soil healthy and reduce carbon footprint (and even sequester it). We should be encouraging this and remember this point when others suggest instead that we should stop eating meat altogether.