Supply Fears Help Cattle Price To Record HighSupply Fears Help Cattle Price To Record High
Feeder cattle prices have set record highs this December amid the prospect of "tight supplies", highlighted by the USDA in a report forecasting the shrinkage of the American cowherd to a 40-year low.
December 21, 2010
Feeder cattle prices have set record highs this December amid the prospect of "tight supplies," USDA says in a report forecasting the shrinkage of the American cowherd to a 40-year low.
The rise in prices comes amid a growing quest for animals by feedlots to cash in on buoyant prices of live cattle – that is, those fattened for slaughter.
Live cattle for February delivery stood just short of $1.06/lb. in Tuesday trade in Chicago, nearing a two-year high for a nearest-but-one contract set two weeks ago.
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