New Energy Economics: Impact of Climate Change Legislation on Cow-calf Feeder Livestock Prices
Cole Gustafson, biofuels economist, North Dakota State University
Angus.org
Joseph Glauber, U.S. Department of Agriculture (USDA) chief economist, recently testified before the U.S. House of Representatives’ Agriculture Subcommittee. He described the impacts of proposed climate change legislation on the agricultural sector.
By 2015, he said, corn production would decline by 1.4 percent, while prices would rise from the baseline estimate of $4.03 per bushel to $4.32 per bushel. He also predicted that fed-beef production would fall 0.4 percent by 2015 and that prices would rise by 1.4 percent.