Consumers Cool on Beef Amid Hot Weather
Fox Business News
"The fundamentals are definitely negative," said Steve Wagner of brokerage CHS Hedging in St. Paul, Minn. "We’re in the dog days of summer. Demand for beef is waning." A number of other factors were pressuring the cattle market. A rally in corn futures, as high temperatures threaten this year’s crop yield, increased the financial burden on cattle feeders who need the grain to fatten up their herds.