TODAY ON AGDAY
SEPTEMBER 14, 2012
Good morning I’m Clinton Griffiths. The beef processing company that makes lean, finely textured beef says a major news network has defamed its name...and now it's taking legal action.
LIVE CATTLE PRICES:
U.S. Live cattle futures eased back Wednesday after hitting a 6 month high the day before.
The October contract closed at $1.27 a pound. Market watchers say the recent rally is due to tightening supplies. Ranchers across the Midwest have sold more animals sooner due to this year's severe drought. That could still increase due to a lack of hay and forage as winter approaches.
Even with the heat of summer in the rear view, drought continues across the country.
Here's the weekly drought monitor. 64 % of the U.S. Is still in moderate to exceptional drought. That's the highest % since its inception back in 2000. Mike Hoffman continues our update from farm country.
Wildfires have impacted drought-stricken areas across the U.S. this year. In Idaho, the Mustang complex fire - has been burning since July.