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CoBank projects US animal protein producers will face a 12% rise in feed costs in 2021, the highest year-over-year inflation since 2011. Corn futures are above $4 per bushel and soybean meal near $350 per ton, with China's herd rebuilding driving grain demand.
Higher corn and soybean meal prices feed directly into livestock and poultry production costs, supporting the price outlook for feed grains and protein meals while squeezing producer margins.
feedstuffs.comDec 11, 2020After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 78 past neutral report events, LCATTLE moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% over 20.
After 61 past neutral report events, HOGS moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
