Iowa's Agricultural Situation: Projected Corn and Soybean Yields Down Slightly from Last Year, and Continuing Profits Expected in Hog Markets
The harvest season, accompanied by the humming of combines and the bright colors of autumn, now reigns over the midwestern plains. Hot and dry August weather has somewhat hampered progress and has led to a delayed harvest, which continues to stay a couple weeks behind schedule. While foreign demand may be influenced by the fluctuations in the U.S. dollar and increased shipping costs, domestic demand may expand because the major bulk of grain is used as livestock feed, and livestock numbers are on the rise. On the livestock side, data indicates that the national beef cow herd remains stable while pork inventories appear to be more than usually depleted as compared to this time last year, which may translate into higher livestock prices this fall.