Cattle Prices Reach Record Highs Amid Reduced Supply and Rising Demand
Cattle prices have reached record highs, with live cattle futures settling at $2.51 per pound, the highest since the 1960s. This surge is driven by reduced cattle herds and limited supply, leading to higher retail beef prices. The impact is expected to affect restaurant sales and consumer spending on beef products.
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Topics: beef prices cattle futures consumer prices inflation livestock market