The Texas Cattle Feeders Association recapped this years market results today and gave a market outlook for 2007.
TCFA says the market has been up and down this year.
According to TCFA Communication Director, Burt Rutherford, feed yard prices are a little off from last year but the main factor affecting profitability is the price of corn." What's affecting profitability more than anything else was the high price of corn driven by just an exceptional demand by ethenol production...diverting corn away from its traditional uses and turning it into ethenol instead. It has dramatically increased the cost of production."
TCFA is not expecting the retail market to change much in 2007.