Crops in some of the USA’s major producing states are faring well despite a cold arctic blast of record-setting weather although cattle prices have risen dramatically.

The coldest weather seen for 80 years has left beef producers unable to fatten cattle in their usual way causing the beef price to spiral and futures levelling at $1.37225 per pound, the highest since Chicago trading began in 1964.

Crop wise, citrus groves were near freezing in Florida whilst snow cover helped to protect combinable crops across two thirds of the eastern states. Whilst European and US grain prices hadn’t altered much, wheat prices had increased marginally since the cold snap.

Despite wind-chills down to – 50 C and government warnings of ‘dangerously cold artic air’, many producers remained un-worried as expectations were that snow would protect crops as a lack of warmth means they were not growing particularly rapidly.