U.S. Cattle Inventory Drops to Lowest Since 1952 on Drought
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U.S. cattle inventories fell to the lowest in 60 years after a drought in the South scorched pastures, prompting ranchers to shrink herds.
As of Jan. 1, beef and dairy farmers held 90.77 million head of cattle, down 2.1 percent from a year earlier, the U.S. Department of Agriculture said today in a report. That’s the fewest since 1952. Ten analysts in a Bloomberg News survey were expecting a 1.5 percent decline.