Livestock Economics

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Livestock Economics

BUDGETS: cow calf, backgrounding, summer grazing

LMIC: Analysis and Comments, In the Cattle Market, Livestock Monitor

MARKET REPORTS: area market reports

PRESENTATIONS: meeting presentations

LEASE PUBLICATIONS - farm and ranch

Chart of the Month

 

Chart of Month 06-19

Calf prices reached the normal seasonal high in April, with excellent moisture and grazing conditions in much of the US creating a good demand for calves. The USDA-NASS Prospective Plantings report issued in March showed corn producers intended to plant 92.8 million acres of corn, up 3.66 million or 4% from 2018. That also supported calf prices at last year’s seasonal high in spite of a larger calf crop. But excessive moisture in parts of the Corn Belt delayed planting and resulted in less corn actually being planted, which supported corn prices to the detriment of calf prices. July corn futures prices climbed over $1 per bushel from mid-May to mid-June in spite of adequate carryover stocks. Calf prices were originally expected to average near last year, but are below last year and will continue to be affected by corn price changes. Record beef production, unresolved trade issues, weather, and corn prices will cause price volatility. Keeping abreast of changing market fundamentals, with flexible marketing plans that include price risk management strategies is suggested.

 

 

 

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