USDA's acreage numbers injected a substantial amount of uncertainty into both markets that appears set to stay in place throughout the summer, according to University of Illinois agricultural economist Todd Hubbs.
The 2018 extended drought in southwest Missouri has left pastures and hayfields with few forages left at the end of summer according to Tim Schnakenberg, field specialist in agronomy, University of Missouri Extension.
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.
Recent price support caused by a lower national yield forecast dissipated this week, as negative consumption news and improving weather for harvest appeared, says University of Illinois ag economist Todd Hubbs.