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USDA Report Sends Cattle Prices Up

The USDA said recently that there are 300 million more bushels of carryover corn from 2009 than it had reported previously.

The USDA said recently there are 300 million more bushels of carryover corn from 2009 than it had reported previously.

The report drove down corn prices but gave a boost to the cattle market.

The surplus number was raised to 1.7 billion bushels.

December corn plunged during the morning on the Chicago Board of Trade, before recovering at $4.96. A drop in the carryover corn stocks earlier had helped corn rise from a yearly low of $3.45 in June to above $5 this month.

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