Heat, drought causing ranchers in the North to sell cattle

It’s so hot and dry in northern parts of the U.S. that cattle ranchers are frantically selling off animals to trim their herds as hay crops and pasturelands wither. Drought conditions have swept the northern reaches of the Great Plains this year, parching grazing pastures and grain fields while demonstrating how quickly severe weather can upend commodity markets. Prices for spring wheat, grown in the area, have soared 16 percent this month as volatility jumped. Reuters reports that while the rush of cattle to auctions probably won’t have an immediate impact on U.S. meat supplies, some of the ranchers who are being forced to sell their animals early or pay more for feed may see their incomes suffer. Read more…