NEWS
Livestock Outlook
Mon Dec 22, 2014 01:37 PM CST

Agriculture's golden sector is livestock. Though prices have eased since their summer peak, they are still at high levels. In fact, the price strength surprised many given the level of production. The disconnect between the reduction in red meat production -- about 1% -- and this summer's price rally -- as much as 40% -- attests to how inelastic meat demand has become, said Dhamu Thamodaran, chief commodity hedging officer for Smithfield.

That disconnect promises continued strong prices in 2015. Add projected corn carryout at its highest level since 2004-2005 and the ...

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