December 24, 2003

Mad Cow Effects

It may be a short trading day on Wall Street, but resturant stocks are getting hit because of the Mad Cow scare. But there's a possible bright side:

But some analysts said there could be a long-term benefit for restaurants as beef prices slide from recent highs.

Japan and South Korea, the top two buyers of U.S. beef, along with several other countries, have already halted imports.

"That will increase domestic supply, which is good for pricing," said Matthew DiFrisco, analyst with Harris Nesbitt Gerard.

On the futures market cattle futures are down sharply. No surprise there.

"Restaurant Stocks Drop on Mad Cow Scare"