The U.S. cattle herd has shrunk to the smallest since three years before Ray Kroc opened his first McDonald’s Corp. hamburger stand, reducing supply and raising prices even as domestic demand sinks to a two-decade low.
The selloff that erased $1.78 trillion from American equity values has pushed the cost of options to the highest levels of 2012 and prompted hedge funds to add to short sales at the fastest rate since October.
The fastest-ever development of the Kansas wheat crop is drawing a record number of surveyors seeking to gauge prospects for a harvest that is poised to swell the world’s grain bins and drive prices lower.
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.
Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon told investors he’s “deeply sorry” that his personal finances have come under scrutiny as shares fell the most in more than three years.