US cattle prices soar on limited supply

Cattle prices in the US have been on the rise from December to April in the country's biggest rally of fed cattle prices seen in the last 30 years.

A harsh winter and smaller herds have limited cattle size and quantity going to slaughter, resulting in tight supply and a 25% increase in cattle prices since last year.

Tough financial conditions forced cattle farmers to sell off most of their herds earlier this year. Lower supply and an increased demand as the economy improves will make beef prices at grocery stores and restaurants higher.

The economic and weather conditions have had an equal effect on the poultry and pork markets in the US, according to reports.