In the back of my mind I see a bit of a drought coming for parts of the cornbelt this summer. Maybe it's just I'm sensitive to anything reinforcing my hunch but there have been several weather people and organizations discussing El Nino/La Nina effects possible for this coming summer.

While the gulf and ND have been getting lots of moisture, there are many places (like here) in between which are getting dry even though it is May 1. Today's NWS drought monitor actually started spreading into IL.

What effect that would have on board fat cattle I'm not sure but corn price would go up as yield potential goes down. I think the possibility of a dry summer is behind the recent corn price rise.  Seems like hay and pasture will be in demand...

Food for thought.