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Slow US corn planting and wet weather in the US and Ontario raised feed cost concerns for feedyards, with some analysts suggesting unplanted US acres could exceed 30 million. Lethbridge feed barley was about $5.35 per bushel for spot delivery, and Prairie drought raised the prospect of a Canadian barley shortfall.
Feedyards were advised to watch the market closely.
Prevent-plant risk could cut US corn supply and lift feed grain prices, while Prairie drought adds upside for Canadian barley and raises feedlot costs.
realagriculture.comShaun HaneyJun 2, 2019After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
Not enough comparable past events yet for a historical read.
After 29 past bearish weather events, Feeder Cattle moved a median +0.5% over 5 sessions (62% higher; middle half -0.5% to +2.6%), and +2.4% 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.
Slow US corn planting and weather concerns raised feed costs for feedyards, a bearish input-cost factor for feeders.
Slow corn planting and wet weather raised feed cost fears, supporting the input-cost mechanism behind feeder selling.
