AGRIBUSINESS: Analysts predict gains with rains in 2013
CattleFax market analysts gave their projections for the coming year at the Cattle Industry Convention Friday. Creighton University Professor Emeritus Art Douglas says there is a chance some regions of the country will see more normal precipitation patterns return in the coming spring and summer growing season. That sounds promising, especially since the multi-year drought has affected more than 70% of the cattle industry. If more normal precipitation does return, analysts predict U.S. farmers will plant a record number of corn and soybean acres. CattleFax Grain Market Analyst Chad Spearman says that would lead to lower feed grain prices – with relief on the supply side and ultimately price relief in the second half of the year. More moisture would also mitigate hay prices after harvest begins in the summer,according to Spearman.