# Livestock Margins Tighten As Feed Price Ratios Fall

> USDA reported that September hog-corn, milk-feed, and steer-and-heifer-corn ratios fell year over year. Livestock prices were lower than a year earlier, while the feed-cost index was 11% higher, reflecting increases in feed, concentrates, grains, and supplements.

- Date: 2026-11-05 · published 2026-11-06T06:07:23.629Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/83371-livestock-margins-tighten-as-feed-price-ratios-fall
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Higher feed costs alongside weaker livestock prices reduce producers’ purchasing power and can constrain feed buying. The figures signal pressure on livestock margins, but do not identify a specific grain price move.

## Read by commodity

- HOGS: bearish ▼
- MILK: bearish ▼
- LCATTLE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2021-08-02 | [Rabobank: China’s hog prices to affect global markets \| Feed Strategy](https://feedsoft.ai/events/45566-rabobank-china-s-hog-prices-to-affect-global-markets-feed-strategy.md) | +0.8% | -10.9% |
| HOGS | 2022-09-07 | [China: Livestock and Products Annual \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/39526-china-livestock-and-products-annual-usda-foreign-agricultural-service.md) | +0.4% | -6.1% |
| HOGS | 2018-03-05 | [Higher protein production forecast pressures prices for livestock producers \| Western Livestock Journal](https://feedsoft.ai/events/65941-higher-protein-production-forecast-pressures-prices-for-livestock-producers.md) | -0.2% | -13.5% |
| HOGS | 2025-03-07 | [China: Livestock and Products Semi-Annual \| USDA Foreign Agricultural Service](https://feedsoft.ai/events/25572-china-livestock-and-products-semi-annual-usda-foreign-agricultural-service.md) | -0.5% | -0.0% |
| HOGS | 2021-11-23 | [Input Costs Will Continue to Challenge Livestock Producers Into 2022](https://feedsoft.ai/events/44171-input-costs-will-continue-to-challenge-livestock-producers-into-2022.md) | -2.2% | +5.7% |
| LCATTLE | 2022-06-07 | [Livestock prices tipped to fall as herd, flock rebuilds slow - Beef Central](https://feedsoft.ai/events/40868-livestock-prices-tipped-to-fall-as-herd-flock-rebuilds-slow-beef-central.md) | +1.2% | +3.6% |
| LCATTLE | 2021-04-09 | [Rising feed prices impact cattle markets \| Western Livestock Journal](https://feedsoft.ai/events/47743-rising-feed-prices-impact-cattle-markets-western-livestock-journal.md) | +0.6% | -3.2% |
| LCATTLE | 2020-03-09 | [Cattle feeding returns faltering \| Western Livestock Journal](https://feedsoft.ai/events/5174-cattle-feeding-returns-faltering-western-livestock-journal.md) | -5.6% | -6.9% |

## Sources

- allagnews.com: https://www.allagnews.com/livestock-margins-tighten-as-feed-price-ratios-fall/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.