Drought hits U.S. cattle numbers, forces hog sales

This summer's historic drought and record feed grain prices prompted cattle feedlots to cut August purchases to the lowest since 2008 and forced hog producers to rush animals to slaughter swelling pork supplies.

The impact on prices may differ in the short-term, with the glut of pork products weighing on prices now, but both portend higher meat costs down the road as breeders and ranchers reduce the number of animals they feed to blunt painful feed costs.