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The Economic Research Service projected lower farm-sector returns for 2024, with cattle returns falling as lower traded volume offsets higher prices. Feeder animal costs and interest expense are expected to stay high.
The article also notes that grazing fees rose in several states in 2023 after high corn and hay prices.
Higher feeder costs and interest expense squeeze cattle feeding margins, which can slow placements and reduce demand for feed. Lower corn and hay prices would ease these pressures on cattle producers.
u.osu.eduSmith atFeb 14, 2024After 78 past neutral macro events, Corn moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% over 20.
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.
