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Cattle industry impacted by high grain prices
Dramatic increases in grain and oilseed prices in the last three to four months are affecting cattle feeding operations. July corn futures are currently priced at $5.20/bu compared to weekly cash prices above $4.00/bu in mid-October 2020 and $5.44/bu by mid-January 2021. While the supply of feeder cattle is mostly determined for 2021 according to Derrell S. Peel, Oklahoma State University…