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Livestock economist Derrell Peel says tighter corn supplies after a 50 million bushel drop in corn stocks are pushing corn above $5 per bushel toward $6, raising feedlot cost of gain. He expects feedlots to shift purchases toward lighter cattle from the country, with feeder cattle effects emerging over three to five months.
Higher corn prices raise feedlot cost of gain and could reduce demand for lighter feeder cattle relative to heavier weights, pressuring feeder cattle prices over the coming months.
pnwag.netPNW Ag SourceFeb 18, 2021Not 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.
