Harsh winter spurs U.S. cattle prices

US - U.S. cattle prices sped to a three-year high in the Chicago markets today amid signs beef supplies will be tight for the spring and summer when demand peaks for steaks and hamburgers.
calendar icon 9 March 2007
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A harsh winter and high feed prices have reduced the number of cattle in feedlots and beef plants are now aggressively buying those cattle to ensure they can produce enough beef to supply the upcoming demand, livestock analysts said.

"I think the retailers are starting to get a little more nervous because of the supply side. We are getting closer to when they need to buy for Easter, and Mother's Day, and spring time," said Jim Robb, an economist with the Livestock Marketing Information Center.

Also, demand for beef has remained strong despite high fuel prices, said Robb.

Source: The Star.com
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