Cattle Fall for Second Day as Demand May Decrease; Hogs Decline
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Cattle futures fell for a second day on speculation that demand will ebb for slaughter-ready animals as U.S. consumers reduce beef purchases. Hogs dropped.
Meatpacking plants will probably slow purchases of cattle because they will be shut for the Christmas holiday on Dec. 25. Wholesale beef has dropped for three straight days, reaching $1.9206 a pound yesterday, the lowest since Nov. 9, government data show. Shoppers may be choosing cheaper alternatives after the cost of the meat climbed 8 percent since the end of July.