Widespread frost is likely late this week and into next across much of the
Current forecasts call for frost beginning this Friday in the northern states, with the cold moving south over the weekend and the frost line extending to the Ohio River Valley by next Monday.
Corn prices have responded with sharp gains this week, as traders anticipate possible yield reductions in the late-developing corn crop. Other commodities also have seen price gains over the past few days, including energy, and ethanol prices are up, adding to the bullish sentiment in the grain markets.
An earlier Drovers.com article provides details on this week's Crop Progress report, showing just 10 percent of the nation's corn crop harvested as of Oct. 4.
Cattle markets, unfortunately, are behaving differently, as declines in wholesale beef prices contribute to weakness in cattle prices. The Oct. and Dec. live-cattle futures are nearing contract lows this week as the anticipated fall rally has not materialized. In addition, heavy placements into feedyards through the summer, which appear to have continued during September, probably will result in larger supplies of market-ready cattle during the first quarter of next year, keeping pressure on prices.