Chihuahua cattlemen received credit in U.S. dollars from the Community Credit Corporation (CCC) of San Antonio, Texas to import U.S. breeding heifers in order to repopulate the diminished herds in the state. The herds have been reduced by more than 50 percent in the last five years due to the drought. Chihuahua cattlemen have lost more than 1,100,000 head of cattle between 1990 and 1996. Record rains over the past month have "lifted the spirits" of the ranchers, according to a report in Diario de Juarez, who now have hope in their ability to recoup their losses. In order to repopulate the herds, ranchers from border states have taken out lines of credit for $125 million dollars from the CCC. The loans offered by the CCC at 3.5 percent interest rate with a ceiling of 6 percent were very attractive to the Mexican cattlemen even though there is risk in using dollars.
Source: Diario de Juarez