NDSU Extension - Williams County issued the following announcement on April 14.
Feed prices have increased 60% or more from a year ago, but most cow herd budgets did not anticipate that increase. Hay prices have also increased drastically in response to reduced hay production due to the widespread drought of 2021. This increase in demand for feed due to drought, combined with an increased worldwide demand for corn grain and soybeans, makes an expensive year to feed the cow herd.
The cattle feedlot industry tries to control feed prices via hedging and contracts, but ultimately, the high cost of feed results in lower calf prices. Lower calf prices create financial distress when the cow herd owner must pay higher feed costs.
The US Department of Agriculture Farm Service Agency Emergency Livestock Relief Program (ELRP) is currently making payments to producers who received assistance from the 2021 Livestock Forage Disaster Program (LFP). https://www.usda.gov/.../usda-provide-payments-livestock....
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Original source can be found here.
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