According to the latest USDA supply/demand update, U.S. farmers this fall will harvest the largest corn crop on record. Between a 6.1% increase in harvested acres (5.1 million acres more than a year ago) and a 12.8% increase in expected yields (18.8 bu./acre higher than in 2011), U.S. corn production for the 2012/13 marketing year is now pegged at a record 14.790 billion bu. This is 2.432 billion bu. or 20% larger than a year ago and about 1.75 billion...More

In his Monthly Market Profile for BEEF magazine, Western Kentucky University’s Nevil Speer says the primary story during the past several months revolves around cattle feeders. They’ve done a great job fending off the onslaught of negative pressure, he says, but serious cracks began to appear in April....More

Since late February, cull cow have averaged about $10 higher than last year. Those high 2011 prices occurred despite a 15% higher slaughter rate than the five-year average, and were buoyed by strong demand for manufacturing grade cow beef and lower beef imports. Conversely, the higher cow prices in 2012 are the result of lower cow slaughter and continued strong demand for 90% lean boneless beef....More