Beef King Sees U.S. Cattle Price Rebounding Amid Shrinking Herds

Beef King Sees U.S. Cattle Price Rebounding Amid Shrinking Herds

Daniel Acker/Bloomberg

A surge in corn and soybean prices last year amid the worst U.S. drought in more than five decades prompted ranchers to cull animals at a record pace and led the U.S. cattle herd to drop to the lowest level since 1952.