Prices for Young Cattle Are Soaring, Signaling Expensive Beef
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A little-known market, that of young cattle, is signaling that pricey beef could be here to stay awhile.
Feeder cattle are animals that have not yet been fattened on corn for slaughter in feedlots. Prices for those on the futures market climbed to the highest since March 2016 in Chicago. The gains followed a survey showing the American herd shrank 1.3% from a year ago.