Organic feed markets continue largely unchanged.  Merchandisers report a continued use of “just in time” inventory practices, resulting in smaller lots and more frequent ordering.  Before inflation prompted interest rate increases, buyers maintained deeper inventories. 

There is some hope on the part of merchandisers that as interest rates are lowered, buyers will increase their appetite for risk and return to the days of over-buying.  This buying spree was not typical, but rather a response to volatility, and many buyers found themselves subsequently carrying grain through a period of declining prices.

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