Drought drives U.S. cattle supplies to 75-year low as retail beef price hits record. USDA reports 57% of cattle in drought areas, pasture conditions at 42% poor or very poor.
U.S. ranchers are under pressure to sell or move cattle as drought dries pastures and water sources across major ranching regions, with the USDA reporting that 57% of cattle inventory is in drought areas. Retail beef prices have hit a record high.
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