Commodities
Beef Is Poised to Stay Pricey as America’s Cattle Herds Shrink
Cattle at the Santa Teresa International Export/Import Livestock Crossing in Santa Teresa, New Mexico.
Photographer: Paul Ratje/BloombergThis article is for subscribers only.
The American cattle herd shrank more than expected to the lowest seasonal levels since 2014, an indication that beef prices will remain high for at least another couple of years.
There were 95.9 million cattle as of July 1, down 2.7% from a year ago, the US Department of Agriculture said Friday in its biannual cattle-inventory report Friday. Analysts surveyed by Bloomberg expected a 2.3% decline.