Cattle futures climbed to a nine- week high on speculation that U.S. beef supplies will be limited by unusually hot weather that killed some animals and threatened to halt weight gains for the feedlot herd. Hogs also rose.
The Kansas Livestock Association has reported cattle deaths from “extreme temperatures.” Heat indexes in parts of Kansas, the third-largest producing state, Oklahoma and Missouri may reach as high as 110 degrees Fahrenheit (43 degrees Celsius) today, according to the National Weather Service.
“There were those limited deaths in Kansas, but the bigger deal is the impact on potential weight gains for cattle in the feedlots,” said Rich Nelson, the director of research at Allendale Inc. in McHenry, Illinois.
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