USDA Moves Livestock Forecast Lower

The nation’s livestock industry appears to be adjusting to the COVID-19 pandemic and the slowdown of the global economy. And as Gary Crawford points out, USDA analysts adjusted their livestock industry forecast Thursday.

Speaking of those WASDE numbers, the wheat outlook expects lower exports, reduced domestic use, and increased ending stocks. The forecast now expects ending stocks of 970 million bushels, up 55 million from the previous month.

The season-average farm price for wheat is up by five cents a bushel to $4.60.

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