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

North Dakota feeder cattle prices declined sharply in March and April due to events surrounding COVID-19. However, a gradual price recovery to pre-Covid-19 levels has occurred. Feeder cattle futures prices indicate a further recovery to above 2019 levels in August. September, and October with November futures at slightly above even 2018 levels. Price support materialized from some recovery in late 2020 and early 2021 live cattle futures and a smaller 2020 calf crop. However, the most notable support is from declining corn prices. December corn futures prices in mid-August were at contract lows due to the expected record 15.3 billion-bushel corn crop predicted by USDA-NASS in the August crop production report. A derecho storm went through the heart of the Corn Belt on August 10 which will likely impact corn production negatively and could cause increasing corn prices. That would be the biggest threat to maintaining feeder cattle prices at or above last year’s prices in October and November.