As temperatures dipped to a record minus 25 degrees Fahrenheit (minus 32 Celsius), the crew at Dean Wang’s ranch in Baker, Montana, increased alfalfa-hay rations to give his cattle more energy during the arctic blast.
U.S. crops are escaping record- setting cold weather with little damage, while the arctic blast drove cattle prices to a record as animals struggle to gain weight.
Cattle futures climbed to a record as U.S. beef production is forecast to drop to an 11-year low in 2014 while the improving economy signals increasing meat demand.
Cattle futures fell for a fourth straight day on speculation that U.S. meat demand will slow after the Labor Day holiday as the weather cools.
Cattle futures headed for the longest rally in two months on speculation that U.S. beef demand is improving, encouraging meatpackers to buy more animals for slaughter. Hog prices fell.
Cattle futures rose the most in a month on speculation that U.S. meatpackers will increase purchases amid shrinking supplies. Hogs declined.
Cattle futures rose on signs of increasing demand for U.S. beef and shrinking animal supplies. Hogs fell.
Hog futures had the biggest drop in almost two weeks on signs of slackening demand for U.S. pork and increasing supplies of animals available for slaughter. Cattle also declined.
Cattle futures rose for the eighth straight session, capping their longest rally since November 2008, on mounting concern that U.S. herds are shrinking as demand for exported beef increases.
Cattle futures fell to an 11-week low on signs that U.S. demand for beef is weakening. Hogs also dropped.
"The feed report really catapulted prices higher."
- Lane Broadbent on Sep 27, 2013