WICHITA, Kan. – Years of drought are reshaping the U.S. beef industry with feedlots and a major meatpacking plant closing because there are too few cattle left in the United States to support them.

Live cattle futures fell the $7.25 limit on Friday, with October the lone contract not locked the limit, but still $5.97 lower. October was $233.75 lower last week. Cash trade settled in at $238-240 ...

Between Oct. 18 and Oct. 23, six days after a bearish Cattle on Feed report, the January Feeder Cattle (Figure 1) contract fell 6.5%, from $252.86/cwt to $236.41/cwt, while December live cattle fell 4 ...