cattle prices
Cheap corn isn’t enough to keep U.S. cattle herd growing
Beef prices set records in 2014 due to short supplies and rising demand in the U.S. and overseas, encouraging cattle producers to chase profits by expanding their herds. Now, despite declining prices for corn, they're cutting back because slaughter cattle prices this year are forecast by USDA to be an average 18 percent lower than last year.
Lower livestock prices darken expectations in farm country
Crop and livestock producers are less optimistic about the economic outlook for the farm sector, according to the Ag Economy Barometer sponsored by Purdue and the CME Group. The chief reason was a decline in cattle prices during May, said Purdue economist Jim Mintert.