Cattle Rally to Record as Livestock in Japan Struggle to Survive
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Cattle futures rose to a record for a third straight day on speculation that demand for U.S. beef may increase as hazardous radiation levels in Japan may contaminate food supplies. Hogs fell.
Cattle in Japan’s Fukushima prefecture are struggling to survive as radiation leaking from a crippled nuclear power plant contaminates soil and water and forcing farmers to evacuate the area. Prices rose 7.2 percent last month, the biggest gain since November, and capped a 12 percent rally in the first quarter.