Purdue Economist: Good Corn Yields Would Mean Lower Meat Prices
Experts appear divided on how much corn the state’s fields will yield this year, but there are some who are predicting record-high production.
They’re crediting this summer’s cool weather, combined with a lot of rain early in the season.
Purdue agricultural economist Chris Hurt says a corn surplus means lower prices on everything from cooking oil to animal feed – prices that will eventually translate into higher profits for meat producers.
“It’s going to be a very profitable time this year and even for a couple of years to come for the animal sector in Indiana and throughout the United States,” Hurt says.
Hurt says increased meat production will eventually bring down the cost of chicken, pork and beef, which have reached record highs this summer.