Elaine Johnson News
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U.S. feedlots placed 14 percent fewer cattle in February compared to a year earlier -- a bigger drop than expected -- as profit prospects and animal supplies declined.
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Hog futures fell for the first time in three sessions on speculation that meatpackers are buying fewer animals as the high cost of pork slows retail demand for the meat. Cattle gained.
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U.S. feedlots bought 5.6 percent fewer young cattle in November compared with a year earlier as rising feed costs curbed profit prospects and supplies of animals declined.
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U.S. meat prices may rise to records this summer after farmers reduced hog and cattle herds to the smallest sizes in decades, the result of surging feed costs linked to demands for more ethanol.
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The first time mad cow disease appeared in the U.S., beef exports plunged 82 percent. More than eight years later, the discovery of an infected dairy cow in California may do little to prevent shipments from surging to a record for a second straight year.
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Cattle futures rose to a one-week high on signs that global demand for U.S. beef is increasing. Hogs gained the most in two weeks.
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U.S. feedlots bought 19 percent fewer cattle in September than a year earlier amid tight animal supplies and as rising feed costs brought on by the worst drought in 56 years curbed profitability prospects.
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Hog futures fell to a 10-week low and cattle dropped as a rally in the dollar and slumping equities dimmed prospects for U.S. pork and beef demand.
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U.S. feedlots reduced purchases of young cattle by 6.4 percent in March as fewer animals were available for sale because of a shrinking herd and as improving conditions allowed cattle to graze on pastures.
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