Australian sheep, cattle prices slump as El Nino scorches pastures

News Snapshot:

[1/5] Livestock farmer Angus Hobson stands in front of his cattle on a farm near Delegate, New South Wales, Australia, November 19, 2023. REUTERS/Peter Hobson/File Photo Acquire Licensing Rights Summary Companies Cattle, sheep prices plunge about 65% from 2021 Beef exports to drought-hit U.S. soar to 3-year high Climate-driven boom bust cycle worsens for farmers DELEGATE, Australia, Nov 29 (Reuters) - Half the typical amount of rain has fallen this year on Angus Hobson's farm in southeastern Australia. That means he has less grass and will have to sell off as many as one third of his cattle and sheep...