Ag economist: Higher feed costs
mean pricier meat in 2011
November 2, 2010
By Steve Leer
It costs a lot more this year to feed meat animals corn and soybean meal than it did just a few years ago. By the end of 2011, meat eaters will be forking out more money, as well, a Purdue University agricultural economist says.
Rising grain prices are pushing feed costs higher for U.S. livestock producers, said Chris Hurt. With feed making up as much as 60 percent of a livestock producer's costs, beef and pork producers are expected to reduce their herd sizes or leave them unchanged next year. Poultry farmers could increase production slightly. That all adds up to sticker shock for consumers - especially those who eat beef, Hurt said.