Beef producers have seen prices plummet in light of last week’s announcement of the nation’s first case of B-S-E, or Mad Cow disease.Cattle futures, traded on the Chicago Mercantile Exchange, have lost about $9.50 since the USDA announced the BSE case last Tuesday. Cattle futures might have seen a quicker decline if not for the daily price trading limits that are in place. Many contracts are trading down the newly-expanded limit today of $5. Today is also the first day that cash markets have had an established market since last Tuesday. The markets either saw very light runs or were closed last week for Christmas. Today the cattle market is between $10 and $14 a hundredweight lower for choice cattle. The big question facing beef producers now is how low will the market go before it levels off. —–
Iowa's Radio News Network
