1719 ET - America's cattle supply is at its lowest level since 1951. The Department of Agriculture says the number of cattle that produce beef and milk in the U.S. fell 1% to about 86.7 million. Ranchers began selling off their herds two years ago after persistent drought, rising costs and low profit margins stretching back to the pandemic. Ranchers have little appetite to rebuild their herds. The cattle shortage means prices to secure livestock at meatpacking plants will continue to rise, hurting profits for companies such as Tyson Foods. It also means higher beef prices for consumers shopping for a steak at the grocery store meat case or buying a burger. ( patrick.thomas@wsj.com )
(END) Dow Jones Newswires
January 31, 2025 17:19 ET (22:19 GMT)
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