Corn prices could push slaughter stats up
18/06/2008
Corn prices in the US have risen to almost $8 a bushel, with traders worried about the possible effect on crops of flooding in the Midwest.
“There is a fear that this destruction may be worse than we think, and that’s driving corn prices higher,” Richard Feltes, senior vice president and director of commodity research for MF Global in Chicago, told media outlets in the US.
He went on to say that high corn prices would encourage livestock owners to increase slaughter; corn accounts for around half of livestock owners’ production costs.
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