Drought Dries Up Cattle
Wall Street Journal
The U.S. market for young beef cattle is feeling the heat of a historic drought.
Faced with seared grazing pastures, ranchers across the U.S. who can’t afford to provide food and water to steers and heifers are rushing to sell them. But the usual buyers, sprawling feeding operations called feedlots, are scaling back as the price of corn—given to cattle to fatten them up—is soaring as crops wilt across the Farm Belt.