In November, U.S. livestock producers spent 21 percent more on feedstuffs for their animals than they did for the same period in November 2006.
In its November Agricultural prices report, USDA cited higher prices for complete feeds, feed supplements, feedgrains and feed concentrates as the factors pushing up feed prices. It more than offset overall cost savings due to lower hay and forage prices for the livestock complex. In all, feed prices were up 4 percent from October.
November's soybean prices averaged $9.48 per bushel. That's 55 percent higher than last year. Meanwhile, U.S. corn prices averaged $3.49 per bushel, up 21 percent from last November.
Live hog prices averaged $38.50 per hundredweight, which came in 14 percent lower than in November 2006. Beef cattle prices averaged $89.30 per hundredweight-- up 6 percent from a year ago.
To view the full report, follow this link (PDF format).