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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Cattle futures drive toward record highs

Sep 20, 2011 10:05 AM

Livestock futures are pushing toward record high prices as a result of increased expenses and costs to feed the animals, according to Bloomberg.

The past year has seen cattle futures gain 16 percent and the commodity is driving toward highs of $1.36 per pound, which would occur in about seven months, research director Rich Nelson with Allendale of Illinois told Bloomberg. Expenses associated with feed costs have been climbing high as corn futures drive to their top annual average price thus far.

"We're going to be talking about a historically large reduction in beef-cow numbers," economist David Anderson with Texas AgriLife Extension Service in College Station, Texas, told Bloomberg. "If nothing else changes, that's tighter supplies and less beef and higher prices."

At 10:39 a.m. on Tuesday, cattle futures were up 0.42 percent, a 0.005 cent climb to $1.1845 per pound. At 10:37 a.m., corn futures increased 1.23 percent, an 8.5 cent lift to $7.0075 per bushel.

Reuters reports China is aiming to buy corn shipped by either the U.S. or Argentina but grains are still feeling the pinch as a result of troubles with equities and financial markets.

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