Heat Forces Ranchers to Sell Herds to Cut Losses: Across the Plains, drought and high feed prices are leading many cattle farmers to cull their herds to prevent mounting losses.
Last month, 17,144 head of cattle were auctioned off, compared with 3,336 in June 2011.
In its latest forecasts, the Agriculture Department expects overall American beef production to fall by about one billion pounds, to 25.1 billion pounds in 2012 from 26.2 billion a year earlier, and forecasts yet another fall in 2013. High beef prices, which entice ranchers to sell more of their stock, and a long-term drop in domestic cattle supplies are also factors in the decline.
