US corn output may lag behind demand

NEW YORK, Mar 29 (Commodity Online): The US corn acreage, estimated at about 91.751 million acres (37.1 million hectares), may fail to meet the surging demand for livestock feed and grain- based ethanol, according to Bloomberg report. Animal feed use of corn in US has climbed a steep curve and bio fuel demand will increase 8 per cent according to USDA. About 40 per cent of corn will be used to manufacture ethanol until August 31. Wholesale beef prices in US climbed to a record with cattle in feedlots jumping 5 per cent on March 1, Y-O-Y. Pork whole sale prices climbed by 33 per cent in the past 12 months and breeding herd by 0.5 per cent on March 1.