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A University of Missouri livestock economist says the latest USDA supply and demand report points to continued volatility in cattle and hog markets. USDA raised its corn price forecast by 10 cents and soybean meal by $20/ton, while also increasing US beef and pork production yet raising cattle and hog price forecasts.
Higher feed input forecasts raise producer costs, while stronger expected demand supports livestock prices, so buyers should watch input costs and consider locking in feed at lower prices.
brownfieldagnews.comMeghan GrebnerOct 12, 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.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% 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.
