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
Stocks continue to show a lack of direction in mid-day trading on Thursday, extending the lackluster performance seen earlier in the session. The major averages have spent the day bouncing back and forth across the unchanged line. After speaking with President Barack Obama by phone about stalled immigration reform legislation on Wednesday, House Majority Leader Eric Cantor, R-Virg., claimed the president still does not understand how to work with the Republican-controlled House. Growth in Philadelphia-area manufacturing activity has accelerated by much more than anticipated in the month of April, according to the results of the Federal Reserve Bank of Philadelphia's Business Outlook Survey released on Thursday. The Philly Fed said its diffusion index of current activity climbed to 16.6 in April from 9.0 in March, with a positive reading indicating growth.
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.