AGRIBUSINESS: Record High Selling Live Cattle Futures
Friday saw record high selling for active live cattle futures in February. Prices went as high as $135 per hundredweight on the Chicago Mercantile Exchange.
And for cattlemen and women, high prices are a good sign after being in the red for several years. With the cattle herd at its lowest in decades, demand for beef has caused prices to increase. Combined with the price of feed dropping, some ranchers hope they might stabilize profits for the months to come.