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Morning Farm Report: Beef prices jump

Live cattle prices rose $1.55 today to hit $150.73. This jump brought the 27-day average price to $159.26. Feeder cattle prices saw a similar hike from $213.63 on Friday to $215.15 on Monday. This $1.52 rise brought the feeder cattle 27-day average price to $215.66.

Corn and wheat prices both saw a slight dip of one cent. Soybeans jumped 14 cents to hit $9.83. This brought the 27-day average to $9.72.

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Soy growers to Chipotle: Misinformation is not a marketing strategy

The American Soybean Association (ASA) has issued a statement in response to Chipotle’s announcement that the fast-food chain would remove all foods containing genetically-modified ingredients, including the soybean oil used in cooking, from its menu. ASA President Wade Cowan, a farmer from Brownfield, Texas, noted farmers’ continuing frustration with the misinformation about agricultural biotechnology advanced by Chipotle last week.

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