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BROOKINGS, S.D. (AP) — A South Dakota State University adjunct economics professor says cattle feeding margins moved back into the black in the first quarter of 2014 after nearly three years of deep losses.
Darrell Mark says last fall's record-large 13.925 billion bushel corn crop drove prices down and helped restore profitability and optimism to the cattle feeding sector.
Mark says March corn futures dropped from the pre-harvest high of $5.17 per bushel to $4.08 on Jan. 10.
He says that contrary to the hopes of cattle feeders and many grain market analysts' expectations, the corn market has staged a fairly impressive rally. Prices have risen about 80 cents per bushel since early January.
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