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Kenny Burdine of the University of Kentucky discusses how feed prices affect feeder cattle values, using the US average corn price trend from 2020 to early 2024. He notes corn prices peaked above $7 per bushel in 2022 before falling significantly through 2023.
He ties the outlook to USDA's Prospective Plantings report.
Feed cost is the largest component of finishing costs, so lower corn prices support feeder cattle values and the outlook for feed demand.
u.osu.eduSmith atApr 3, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
