Rising grain prices will challenge the cattle market and chicken processors this year, according to Derrell Peel, livestock marketing specialist with Oklahoma State University, who said grain and oilseed prices have risen dramatically in the past four months.
According toTB&P, the weekly cash corn price (Dodge City, KS) averaged $3.41/bushel between January and September 2020. That price jumped above $4/bushel in mid-October and this month rose to $5.44/bushel.
Peel toldTB&Pthat futures prices are also rising with July corn priced at $5.20/bushel. He said anyone who feeds corn to animals for food production is paying more than they did this time last year.
