Economist says next USDA yield guess will give insight to feed costs for livestock producers
A livestock economist says he’s watching what the USDA does with corn and soybean yields in this week’s upcoming Supply and Demand report. University of Missouri’s Scott Brown says there’s a lot of variability in crop conditions and development throughout the Corn Belt. “But we’ll get a little better insight from USDA on what they see going forward,” he says. “And it could have really interesting implications for where feed costs go moving forward.”
He tells Brownfield input costs matter for livestock producers. “A good crop in the bin gives us cheaper feed cost,” he says. “Maybe we’re still going to get there.”
Brown says regardless of where USDA goes with its yield estimates – risk management remains a critical component of profitability for producers.
The numbers come out August 11th at Noon Eastern/11 AM Central.