Loading…
A University of Georgia FARE blog expects 2017 US corn production to fall below last year because planted acres are down about 3% and crop conditions have weakened. Drought in the northern High Plains is pushing cattle to move south early to grass or feedlots.
Corn output below last year would normally lift feed costs, but large old-crop stocks should keep prices low through harvest. Drought-driven early cattle movement adds near-term feedlot placements, which supports feeder demand.
site.extension.uga.eduAug 3, 2017After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 79 past bullish weather events, Feeder Cattle moved a median +0.1% over 5 sessions (53% higher; middle half -1.4% to +1.7%), and +1.4% 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.
