Loading…
Purdue economist Michael Langemeier says high cattle supplies on feed and limited packing capacity are pulling down fed cattle prices more than corn costs are. He adds that fewer cattle on feed could improve the price outlook for the second half of the year.
Packing capacity, not feed costs, is the main constraint on fed cattle prices in this view, which limits how much higher corn helps or hurts the cattle complex. Reduced cattle on feed could support a later price recovery.
brownfieldagnews.comadminMay 12, 2021Not 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.
