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Prospects for Swine Feed Costs in 2024

Indiana corn prices have dropped sharply since September. The most recent WASDE report indicates that corn prices could remain low for the foreseeable future. Obviously, lower expected corn prices will translate into lower expected feed costs during the first part of 2024. What trends in feed costs will we see for 2024? And what’s the impact of corn and soybean meal prices on feed costs for farrow-to-finish and swine finishing operations?

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2024 Crop Cost and Return Guide

The Purdue Crop Cost and Return Guide offers farmers a resource to project financials for the coming cropping year. These are the March 2024 crop budget estimations for 2024.

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Trend in Breakeven Prices for Cattle Finishing

Fed cattle prices have strengthened the last few months. At the same time, due to lower corn prices, feeding cost of gain has also declined. Partially in response to these two phenomena, feeder prices and breakeven prices have increased substantially.

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November 2023 Corn & Soybean Basis Update

As the calendar turns to November, many farmers in the eastern Corn Belt still have corn left to harvest. According to USDA, 68% of corn in Indiana has been harvested as of November 5th. Wet corn in the primary culprit. As a result, many elevators are full and are at drying capacity.

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Farmer Sentiment Rises as Producers Report Improved Financial Conditions On Their Farms

The Purdue University-CME Group Ag Economy Barometer rose 4 points in October to a reading of 110. The modest improvement in farmer sentiment resulted from farmers’ improved perspective on current conditions on their farms as well as their expectations for the future. Purdue ag economists James Mintert and Michael Langemeier share some insight into the results of the October 2023 Ag Economy Barometer survey on this Purdue Commercial AgCast episode.

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Cattle Outlook

Slidedeck presentation by James Mintert given at the Livestock Marketing Information Center’s Industry Outlook Conference on October 25, 2023.

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Impact of Lower Corn Prices On Feeding Cost of Gain for Cattle Finishing

Corn prices have declined substantially since the first half of this year. This article examined the impact of higher corn prices on feeding cost of gain for cattle finishing.

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Trends in General Inflation and Farm Input Prices

Most of the recent discussion involving input price changes in U.S. production agriculture has focused on fertilizer prices, which have declined during the last few months. Other inputs have not necessarily experienced this decline in prices.

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Corn and Soybean Basis Weaken as Harvest Heats Up

As harvest heats up across the Midwest corn and soybean basis have been weakening. Weakening basis during harvest is typical of seasonal basis patterns. Therefore, to give context to current basis levels it is helpful to compare them to historical basis levels.

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Agility and Producer Sentiment

Survey of U.S. farmers reveals how a farm’s agility relates to farm growth. Respondents were asked if they had established goals, objectives, and core values; whether their farm looked for opportunities that new enterprises may provide; whether they regularly assessed their advantages and disadvantages compared to other farms.

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