Cattle Rise to Highest Since at Least 1986; Hog Futures Decline
Alan Bjerga
Bloomberg
Cattle futures rose to their highest in at least 22 years as the surging cost of corn renewed concern that U.S. feedlots will reduce the number of animals available for beef production. Hogs fell.
Corn, the main ingredient in cattle feed, jumped to a record for an eighth straight session as floods damaged fields in the Midwest. Feedlots lost $50 to $100 a head last week, said Bob Wilson at hedgersedge.com. Cattle futures are up 18 percent since March 31, partly on speculation feedlot owners will be forced to sell more animals at lighter weights.
The Beef Blog 