ABSTRACT
Livestock producers both in the United States (US) and worldwide have an important stake in the operation of the world grain economy. The continued availability of relatively low-cost grain in the world economy would tend to foster further livestock development in grain-deficit countries and provide competitive advantages in all countries for livestock and livestock production practices more dependent on intensive grain feeding. Short-term effects of the expected swings in prices will be of more immediate concern to most livestock producers than the longer term upward trend in feeding cost, particularly for those in a weak financial position. Projected world food-system trends suggest increasing prices for all livestock products due to rapidly rising consumption in most countries and upward pressure on grain prices. Many developing countries adopted intensive grain-feeding practices for poultry and swine production, and cattle feedlots became a prominent feature of the US agricultural system.
