Cattle Seen at Record $1.36 a Pound as Drought Reduces Herd: Commodities

http://www.bloomberg.com/news/2011-09-19/cattle-seen-at-record-1-36-per-pound-as-drought-reduces-herd-commodities.html

Texas cattle ranchers, the biggest suppliers in the world’s top beef-producing nation, will cull the most breeding cows ever this year as drought increases feed costs, driving livestock prices to a record.