Word: mads
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...Chicago Mercantile Exchange, there were further signs of trouble. The Merc is a forward market that allows cattlemen and feedlot owners to hedge the price they will get for their products and offset some of the normal business risks. The traders provide the liquidity for that risk. But mad cow is anything but normal. James Brooks, floor-operations manager for the nation's largest cattle-futures trader, R.J. O'Brien, says the atmosphere is tense. "People are stressed out. Tempers are short. Nerves are shot," says Brooks. "We're seeing small fights break out. People are having words." The dramatic...
...could this be the year of mad cow? The U.S. Department of Agriculture (USDA) banned Canadian beef in May after mad-cow disease, or bovine spongiform encephalopathy (BSE), turned up in a single calf there. Now it is America's turn. More than 30 countries have banned U.S. beef imports since BSE was detected in a slaughtered 6-year-old dairy cow in Washington State on Dec. 23. Though officials say the cow entered from Canada in 2001, the USDA last week instituted a series of measures to reassure consumers that American beef is safe, including...
...that fell ill now puts those gains at risk. Wholesale prices have already fallen 15% owing to fears that the decimated export market--about 10% of beef sales--will lead to a glut. But even as a third herd in Washington State was quarantined last week for possible mad-cow disease, beef emporiums like McDonald's and Morton's said sales were holding...
...sell their herds again next fall. Out at Murphy's ranch, on the snowy prairie of southern Montana, his pregnant cows' offspring will not be ready for sale until next fall. With no way to test live animals for BSE, Murphy admits he had been fatalistic about a mad-cow crisis occurring in the U.S. "It's not if it was going happen, but when...
...acres of pens with 7,000 head of cattle, feedlot owner Norm Haaland is concerned but philosophical. From his second-story vantage point at TBone Feeders in Shepherd, Mont., he watches corn trucks rumble in to dump loads of feed. He is worried about the fallout from the mad-cow crisis, but his cattlemen customers are more concerned about the recent U.S. decision to allow imports of boxed beef from Canada as long as it comes from cattle younger than 30 months. "The big packers are making a killing up there, buying Canadian cattle from the feeders at hardship prices...