Cattle Prices

Record High U.S. Cattle Prices Forecast for 2013

Mess with corn and soybean prices, you get record-high cattle prices.

The world’s top beef producer expects U.S. cattle prices will jump 20 percent to a record next year as rain on grazing fields and corn crops prompts ranchers from Texas to Nebraska to feed animals instead of sending them to slaughter. Beef output in the world’s biggest producing country will slide as much as 6 percent in 2013 because of reduced processing, JBS SA Chief Executive Officer Wesley Batista said in a Nov. 30 interview from his Sao Paulo headquarters. That compares with a 4.2 percent drop to 24.6 billion pounds (11.2 million metric tons) forecast by the U.S. Department of Agriculture last month.
 

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