Shrinking U.S. Cattle Herd Means No Relief for Soaring Beef

Drought is shrinking the American cattle herd, meaning consumers are unlikely to get relief from near-record beef prices anytime soon.

Abnormally dry conditions last year in the northern U.S. Plains squeezed supplies of hay and feed for cattle, prompting some ranchers to sell to slaughterhouses animals usually held for breeding. Now, deepening drought in the southern part of the Plains -- where most cattle in the U.S. are raised -- could force another round of herd reductions later this year.