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Ranchers and Meat Packers
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Beef is back. Or at least the profits are back in the hands of the ranchers and meatpackers. A surging consumer demand and a ban on Canadian livestock are fueling a bull market for U.S. beef. Cattle prices have hit record highs this month. The momentum is such that it will probably stay lofty to keep cattle producers and meatpacker profitable for several years. These higher prices for beef couldn’t have came at a better time for the U.S. farm economy, which is recovering from a five-year recession.
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