USDA Says Mad Cow Will Cut Cattle Prices

The loss of export markets for beef after the discovery of the first U.S. case of mad cow disease will significantly lower cattle prices this year, the Agriculture Department said.

Cattle prices were forecast in the range of $72 to $78 per hundredweight, down from last month’s government estimate of $84 to $91 for this year.

In its monthly crop report, the USDA said beef exports would fall 90% this year after virtually all foreign countries except Canada banned U.S. beef because of mad cow fears.