Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Mad Cow Disease Case Confirmed In California, USDA Says

Mad Cow Disease Case Confirmed In California, USDA Says
4/24/2012 3:32 PM ET

U.S. live cattle futures spiraled lower Tuesday afternoon, following news of a confirmed case of mad cow disease in central California.

As the Department of Agricultural held a press conference detailing the first case of mad cow disease since 2006, live cattle futures sank by the exchange limit across the board for 2012.

Cattle futures for June plunged 3 cents, or 2.6 percent, to settle at $1.11575 a pound on the Chicago Mercantile Exchange.

The price drop was said to be in response to the traveling news of mad cow disease and fund liquidation.

John Clifford, the USDA's chief veterinarian, told reporters Tuesday in a briefing in Washington that the animal was found at a rendering facility. The meat of the animal did not enter the food chain and the carcass will be destroyed, Clifford said. Milk from the cow was safe.

Mad cow disease was first discovered in December 2003 in an animal that came from Canada, and this marks the fourth confirmed case of the brain-wasting disease in the U.S. cattle herd.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.