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Corn prices rose more than a dollar per bushel from early August through mid-November, and nearby feeder cattle futures fell $7.50 over the same span while live cattle futures gained more than $7. Chinese hog herd rebuilding after African swine fever is cited as a major driver of the grain rally.
Higher corn costs reduce the amount feedlots will pay for feeder cattle, which squeezes cow-calf and feeder returns. Feed buyers should expect costlier corn to persist into 2021 if the rally holds.
farmprogress.comScott BrownDec 3, 2020Not 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.
