Several factors indicate that USDA's quarterly Hogs & Pigs Report, scheduled to be released tomorrow, will show a larger swine inventory. How much of an increase, though, is the question.Last week we noted that the trade expected the upcoming Cattle on Feed Report to come in at 93 percent of last year, which would be the fourth straight month in a row of placements below the previous year. USDA's actual number for February placements came in at 92 percent. Total inventory on feed as of 1 March was down .5 percent. The inventory included 6.94 million steers and steer calves, up 2 percent from 2014 and accounting for 65 percent of the total inventory. Heifers and heifer calves account for 3.67 million head, down 2 percent from last year.U...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
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