Cruelty Video Drops Cattle Futures

U.S. cattle futures slumped Apr. 20 after an animal-welfare group released a grisly video depicting dairy calves on a Texas ranch being killed with a hammer and pickaxe. The owner described the incident as a one-time event involving four new employees who had since been fired. Some traders in Chicago said they believed investors had sold cattle futures due to fears that the video might prompt consumers to avoid beef. The release of the video followed an undercover investigation by Mercy for Animals. The group took the video and documents to the local district attorney’s office.

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