A surprise contraction in the US corn supply will push up beef, pork and chicken prices in what parts of the industry warn will be a “game changer”.
With the US harvest halfway through, the US Department of Agriculture said the average corn field will yield 155.8 bushels per acre, 6.7 bushels less than its September estimate.
“The impact of this is huge, a complete game changer,” says Gregg Doud, chief economist of the National Cattlemen’s Beef Association. “This is an all-time record change in corn yield from one month to the next. We were caught completely flat-footed.”
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