The National Livestock Weekly September 19, 2005 • Vol. 84, No. 49 “The Industry’s Largest Weekly Circulation” www.wlj.net • E-mail:
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[email protected] A Crow Publication USDA revises corn estimate upward; prices slide —Hurricane damage, an average harvest estimate of mates at 139.2 bushels per acre, fuel costs adding to 143.2 bushels per acre. 12% lower than the record 2004 uncertainty. Earlier in the summer, analysts harvest, corn cash prices declined were bearish on corn harvest to $2.14 per bushel immediately Humane animal On Sept.12, USDA released the prospects, stating that prolonged following the release of the initial month’s revised harvest estimate. drought across the eastern corn crop report. treatment The revision tied a record for the belt would drive average yields be- As crop conditions have improved largest upward Aug. to Sept. revi- low 135 bushels per acre, a num- across the nation’s corn growing — Legislation proposed in Arizona. sion. Market analysts had general- ber that many believe would have region, the outlook for both grow- ly been leaning toward a down- led to $3 per bushel corn prices. ers and feeders had been steadily While most of the country was focused on the devastation Hurri- ward revision in the harvest esti- Instead, as yield estimates have improving over the past few weeks cane Katrina created, an Arizona animal rights group, Arizonans for mate, feeling that a long, dry sum- crept upward, prices have followed until Hurricane Katrina shut down Humane Farms, was busy filing proposed legislation in Arizona mer would take its toll on the na- an inverse curve trending down- Gulf Coast shipping ports.