John T. Barone, president and commodities analyst for Market Vision Inc.
A record-large corn crop and lower animal feed prices will help cap, and maybe reduce, costs across a number of commodity categories for restaurant operators in 2014. Unfortunately, beef won’t be one of them. The USDA’s better-late-than-never, October 31 cattle report showed that feedlot cattle marketings, up 6.1 percent from a year ago, continued to outpace new placements, up 1.0 percent, in September. As a result, feedlot inventories have fallen to a 15-year low of 10.1 ...
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