Livestock producers are keeping a close eye on Prospective Plantings report
A livestock economist says this week’s Prospective Plantings report could have significant implications for U.S. livestock producers.
University of Missouri’s Scott Brown says feed rations are primarily corn-based. “Let’s hope we talk about 90-plus, 91 million acres of corn in the ground,” he says. “If we talk about much shorter acreage estimates in this prospective plantings report and corn prices go up, that combination is not going to be a lot of fun.”
Pre-report estimates from Allendale, an ag commodity analysis and brokerage firm, has the prospective plantings for corn pegged at 90.414 million and soybeans at 87.768 million acres.
The report comes out March 31st at 11 AM Eastern.