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. consumer spending split by income as affordability strains persist, Fed Beige Book finds. Higher-income households resilient, but middle and low-income consumers show strain.

The Federal Reserve's Beige Book released Wednesday shows U.S. consumer spending is divided by income group amid affordability pressures, with higher-income households resilient, middle-income households cautious, and low-income consumers under financial strain.

Japan's foreign reserves post record $77.11 billion drop in May, largest monthly decline since 2000. Finance Ministry says reserves fell 5.6% to $1.31 trillion amid yen-buying intervention.

Japan's foreign reserve assets fell 5.6% in May from the previous month, marking the largest monthly decline on record, the Finance Ministry said Friday. Official reserves stood at $1.31 trillion at end-May, down $77.11 billion from April.

Texas defeats Texas Tech 4-1 to win second straight NCAA softball title.

Texas won its second consecutive NCAA softball championship, defeating Texas Tech 4-1 in a rematch of the previous year's final.