Cattle futures surged to a record today on bets that meat demand in Japan will jump on fears farmland and animals were tainted after the March 11 earthquake and tsunami damaged nuclear units. Retail-beef prices here hit an all-time high last month. Businessweek reports the nation’s cattle herd fell to its' lowest since 1958, and meat exports have surged, spurred by a demand in emerging markets. The declining domestic supplies are increasing costs for supermarkets and restaurants.
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