Stubbornly record-high corn prices in Brazil, the world's No. 2 exporter of the grain, are compelling pork producers to slaughter sows they cannot afford to feed and poultry processors to close plants.
Short supply plus strong demand restored prices for Show-Me-Select Replacement Heifers selling Saturday, June 1. The 87 head of bred heifers averaged $1,857 at F&T Livestock Market. High lot sold for $2,100.
Producers who synchronize and artificially inseminate replacement heifers or cows have already begun the process. If hot weather arrives during the AI season, some management and breeding alterations may be helpful.
USDA says farmers intend to plant 97 million acres of corn in 2020. As COVID-19 acts as an anchor on the markets, and the ethanol crisis continues to unfold, some analysts say 97 million acres could be a stretch.