# Ag economist says livestock producers could see lower feed costs in 2024 – WZBD

> Brownfield reports that the USDA cut its current-year corn price forecast by about 5 cents and its soybean meal price by about $10 per ton. University of Missouri economist Scott Brown cites $4.80 corn and $380 soybean meal as moving in the right direction. He notes uncertainty over South American crop size and possible shifts toward US corn planting in 2024.

- Date: 2024-01-18 · published 2024-01-18T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/32255-ag-economist-says-livestock-producers-could-see-lower-feed-costs-in-2024-wzbd
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Lower USDA price forecasts point to cheaper corn and soymeal for feed buyers. Uncertainty over South American supply could still support prices later in the year.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-07-24 | [Livestock producers see relief on feed prices \| Farmtario](https://feedsoft.ai/events/35161-livestock-producers-see-relief-on-feed-prices-farmtario.md) | +9.3% | -4.1% |
| CORN | 2025-03-06 | [Lower feed prices could bolster 2025 margins](https://feedsoft.ai/events/25678-lower-feed-prices-could-bolster-2025-margins.md) | +1.8% | +4.8% |
| CORN | 2020-04-03 | [2020 corn: A story of ethanol, acres and livestock feed \| TheFencePost.com](https://feedsoft.ai/events/53646-2020-corn-a-story-of-ethanol-acres-and-livestock-feed-thefencepost-com.md) | -0.6% | -8.4% |
| CORN | 2024-01-11 | [4 variables for US egg producers to factor in 2024 plans \| WATTPoultry.com](https://feedsoft.ai/events/32150-4-variables-for-us-egg-producers-to-factor-in-2024-plans-wattpoultry-com.md) | -1.3% | -5.6% |
| CORN | 2018-02-26 | [Iowa produces second biggest crop in 2017](https://feedsoft.ai/events/66351-iowa-produces-second-biggest-crop-in-2017.md) | +1.8% | +3.2% |
| SBM | 2024-12-10 | [USDA forecasts lower US wheat stocks, raises corn exports in latest WASDE report \| Feed & Grain](https://feedsoft.ai/events/26902-usda-forecasts-lower-us-wheat-stocks-raises-corn-exports-in-latest-wasde-report.md) | +0.1% | +2.2% |
| SBM | 2024-01-11 | [4 variables for US egg producers to factor in 2024 plans \| WATTPoultry.com](https://feedsoft.ai/events/32150-4-variables-for-us-egg-producers-to-factor-in-2024-plans-wattpoultry-com.md) | -0.6% | -2.4% |
| SBM | 2022-08-12 | [USDA Lowers Corn Production, Increases Soybean Production in August Reports](https://feedsoft.ai/events/39956-usda-lowers-corn-production-increases-soybean-production-in-august-reports.md) | -10.9% | -15.4% |

## Sources

- wzbd.com: https://wzbd.com/index.php/2024/01/18/ag-economist-says-livestock-producers-could-see-lower-feed-costs-in-2024/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.