Row-crop farmers might suffer a bit, but livestock producers may be getting a bit of a break regarding feed costs.
USDA released their latest crop price report that shows lower prices for corn, soybeans and wheat.
The report says price levels for corn will drop about 35%, soybeans will drop 15% and wheat about 10%. USDA experts say the drops are significant for grain producers but it does not take them to disastrous levels.
USDA Chief Economist Joe Glauber says, “product prices still remain high for livestock, dairy and poultry products but those costs are coming down. That is very positive.” This however will not have a positive impact on prices paid by consumers.