steer/corn ratio
Definition
A pictorial display of the relation between cattle and the cost of feeding them. It is calculated by dividing the price of cattle at $/hundredweight and the price of corn at $/bushel. If the corn prices are low, then the steer/corn ratio will be high, acting as a measure of cattle price. In this case, cattle price will be low. Following the rule of thumb, expensive corn will produce expensive cattle.
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