December 27, 2013. The USDA’s Economic Research Service recently produced its Livestock, Dairy, and Poultry Outlook report. In this report the Economic Research Service noted that “in wrapping up 2013 and moving into 2014, we see a number of factors that have developed into pluses for the livestock sectors. Declining feed costs and improving pastures are allowing producers who graze livestock more options. As of early December, monthly average corn prices had dropped by almost a third from Augusts’ monthly average price. The corn price decline is due to good corn yields, abundant supplies, and developments toward relaxing the Renewable Fuels Standard. Further, thanks to some timely precipitation, the majority of the winter wheat crop in Texas, Oklahoma, and Kansas–particularly the grazing areas– appears to be in mostly fair to excellent condition. Precipitation now and through the winter will also benefit pastures next spring, enhancing the outlook for summer grazing in 2014.”
The combination of factors discussed above is providing livestock producers with a positive outlook for 2014. Read the report here in its entirety. For more information contact Goosmann Law Firm, PLC at info@goosmannlaw.com or by calling 712.226.4000.