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Production forecasts for the corn and soybean crops to be harvested this fall indicate the potential for ample feed supplies. As a result, corn prices are declining. The recent rains have also improved pasture conditions in most of the northern half of the United States. Despite recent improvements, most of the Southern Plains, Southwest, and West remains under serious drought conditions.

The National Agricultural Statistics Service (NASS) will release the much anticipated semiannual July 1 Cattle report on July 25. This report will provide a first look at heifer retention since precipitation began shifting parts of the Plains States out of their most severe drought designations.