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SDSU prof: Cattle feeding margins move into black

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SDSU prof: Cattle feeding margins move into black
Mitchell South Dakota 120 South Lawler 57301

BROOKINGS (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.

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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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