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.
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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.
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AgDay and U.S. Farm Report reporter Betsy Jibben has the story.
USDA's mid-year inventory totals suggest that the U.S. cattle herd has reached a plateau. I contrast a plateau with a more typical cyclical peak inventory that historically has implied a liquidation phase to follow.