Hot weather in Missouri causes a drop in corn yield and lower cattle prices in short run.
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Hot weather in Missouri causes a drop in corn yield and lower cattle prices in short run.

Date: August 30, 2011
By: Tong Gao
State Capitol Bureau

 

Intro: 
High prices of corn today helps farmers survive the down year. Tong Gao has more from Jefferson City.
RunTime:  0:36
OutCue:  SOC

Wrap: 

Recent corn yield estimates a down year with 125 bushels per acre, roughly 20% less than normal. 

However, USDA Deputy Director Bob Garino says farmers are less likely to be affected because the price is already historically high.

Actuality:  GARINO.WAV
Run Time:  00:09
Description: "It definitely has an impact. But fortunately since the prices are high, so it's not a severe impact as it could be with the price we were seeing five or ten years ago. "

But Garino also says if the next corn yield estimates continue dropping, commodities prices will increase and affect consumers.

Garino adds 2010 was also a down year, with yields similar to 2011. 

Reporting from the State Capitol, I'm Tong Gao.

Intro: 
Missouri Corn Grower Association CEO says higher cost of animal feeds causes cattle prices decrease in a short term, but eventually the price will go up.
RunTime:  0:39
OutCue:  SOC

Wrap:  

Reports released from the USDA say hot and dry weather in Missouri dropped corn yields nearly 20 percent in 2011.

But Missouri Corn Grower Association CEO Gary Marshall says this actually prevents cattle prices from going higher in short run, because a lot of cattle goes to the market. 

Actuality:  MARSH.WAV
Run Time:  00:06
Description: "If they didn't have to sell their cattle right now, they would keep them on hand, and it would help to keep prices up."

Marshall adds the cattle prices will eventually go up when there is a lack of cattle supply about a year later.  

USDA Deputy Director Bob Garino says the cattle price will still rise due to the higher cost of animal feeds. 

Reporting from the State Capitol, I'm Tong Gao.

 


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