date:Jul 28, 2014
interview.
These higher prices have added to the risk across the supply chain.
A third of Texas, the largest cattle-producing state, was rated in severe to extreme drought as of July 22, marking the fourth straight year it has been that dry or worse for this time of year, U.S. Drought Monitor data show.
Futures Rally
Before the USDA announcement, cattle futures for October delivery rose 1.1 percent to close at $1.598 a pound on Chicago Mercantile Exchange.
The record settlement matched the