The Food and Agricultural Policy Research Institute projects the U.S. beef cow herd growing 1.7 million head in the next four years before trending lower again. USDA's 10-year projections call for steady growth and more cows.
Calves and feeder cattle gained more ground this week as farmer-feeders joined the fray in search of cattle for summer grass. AMS analysts note that direct sales were also very active with the full price advance on feeder cattle.
With grazing demand at its peak, calves and feeder cattle traded mostly steady to $5 on either side of steady this week, depending on location, weight, and buyer, according to the Agricultural Marketing Service.
Livestock producers should not expect much more adjustment to corn prices during the 2015-16 crop year, say analysts with the Livestock Marketing Information Center. Though acres planted to corn are expected to be less, carryover should be higher.