(Bloomberg) -- Cattle futures touched the lowest in
four months in Chicago as meatpacking plants dropped prices to
encourage retailers to buy excess inventories. Hogs also fell.
The wholesale carcass price for cattle on June 1 fell to
the lowest since April 4, according to data from the U.S.
Department of Agriculture. Slaughterers sold 19.6 million pounds
of beef on May 31, the most in 10 months, according to data from
the USDA. Meatpacking plants normally sell beef at a discount
instead of paying to store it.
Read more at Bloomberg Commodities News
four months in Chicago as meatpacking plants dropped prices to
encourage retailers to buy excess inventories. Hogs also fell.
The wholesale carcass price for cattle on June 1 fell to
the lowest since April 4, according to data from the U.S.
Department of Agriculture. Slaughterers sold 19.6 million pounds
of beef on May 31, the most in 10 months, according to data from
the USDA. Meatpacking plants normally sell beef at a discount
instead of paying to store it.
Read more at Bloomberg Commodities News
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