Sunday, June 23, 2013

Cattle Futures Break Out, Prices Rise

CLEVELAND, Ohio — Drought conditions in the United States have improved since last September, but they remain severe in the West and are affecting consumers across the nation.

  CHICAGO, June 21 (Reuters) - The number of cattle placed in
U.S. feedlots last month slipped 2 percent, a government report
showed on Friday, which analysts attributed to rising feed costs
discouraging the fattening of cattle for slaughter.
    The U.S. Department of Agriculture showed May placements at
2.049 million head, compared with 2.084 million a year earlier.
Analysts, on average, expected a 5 percent decline.