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Article: Why mad cow scare won't sap U.S. economy
- Article from:
- Chicago Sun-Times
- Article date:
- December 26, 2003
- Author:
CopyrightCopyright 2003 Chicago Sun-Times. (Hide copyright information)
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The economic impact from mad cow disease is likely to be small and
confined to a limited sector of the U.S. economy.
Here's why.
The USDA announced late Wednesday that a cow, slaughtered Dec. 9
on a farm in Mabton, Wash., had tested positive for mad cow disease
or Bovine Spongiform Encephalopathy (BSE). Japan, Korea, Taiwan,
Australia, Chile, Mexico, Russia, and South Africa immediately halted
all imports of beef from the United States.
Prices for live cattle futures on the Chicago Mercantile Exchange
were down the maximum limit (1.5 cents per pound) Wednesday to 89.175
cents. After trading limit-down for two consecutive days, the limit
will be increased to 3 cents. If they trade limit-down ...