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CoBank forecasts that US livestock and poultry producers will face 12% higher feed costs in 2021, the largest increase since 2011. The forecast cites corn futures above $4 per bushel and soybean meal around $350 per ton.
Higher corn and soybean meal prices raise feed costs for cattle, hog and chicken producers, which squeezes margins and could limit herd and flock rebuilding.
foodnavigator.comJane ByrneDec 15, 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, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% 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.
