Drought-Fueled Cattle Sales May Ease Rising Beef Costs for Tyson
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A prolonged drought from Kansas to Texas probably forced U.S. ranchers to sell more cattle to feedlots last month, signaling increased supplies for meat processors including Tyson Foods Inc. and lower beef prices.
Deteriorating pasture conditions in the southern Great Plains and record cattle prices prompted the sale of 1.935 million head to feedlot operators, up 4.2 percent from March 2010, according to a Bloomberg survey of 14 analysts. The U.S. Department of Agriculture will disclose the feedlot inventory today at 3 p.m. in Washington.