11-08-2014 01:06 AM | USA

Investors bet on a break from beef

U.S. cattle prices are sliding from the record highs reached last month as investors bet beef consumption could cool in the short term.

Live cattle for August delivery fell 3% last week to $1.5255 a pound on the Chicago Mercantile Exchange, the lowest closing price for a front-month contract since July 18. Futures for feeder cattle, animals that are being fattened for slaughter, lost 2.2% last week to $2.15325 a pound.

Persistent drought in the central U.S. has curbed cattle supplies, causing prices to surge to the highest level in history.
Full Story : Wall Street Journal