John Harrington DTN Livestock Analyst
Fri Sep 12, 2014 03:09 PM CDT

Beef's Bumper Bummer

In estimating a record corn harvest of 14.4 billion bushels this week, the USDA unwittingly delivered very bearish news to the beef industry. This may not entirely explain why live cattle futures broke so hard from Wednesday through Friday. But believe me, it didn't help.

How does the old saw sing? Cheap corn always leads down the road toward cheap meat. Significantly reduced feed costs typically encourage more livestock feeding in general as well as the production of heavier animals and carcasses.

Such a flashing green traffic light is especially irresistible at the top of the curve ...

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