World Perspectives
feed-grains livestock

Bullish COF Report

USDA released its monthly Cattle on Feed (COF) report this afternoon, which was bullish as expected. The total inventory in feedlots with capacity of 1,000 head or larger was 11.1 million head, the 32nd consecutive month of year-over-year increases and the largest total for 1 August since the series began in 1996. However, the rate of growth slowed dramatically. The 1 August inventory on feed was only slightly higher than August 2018.

The table above shows a big jump in July marketings, partly due to an extra day in that month versus a year ago. Nonetheless, average daily marketings totaled 86,857 head based on 23 slaughter days (excluding Saturdays) against 85,000 head in July 2018. The pace of July marketing picked up to 18 percent of...

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Mexico’s 2025/26 sugar production is estimated to be 5.024 million MT, reflecting about a 6 percent increase from 4.7 million MT after the past two years of weather-affected output, including both persistent drought and ill-timed rains. Nonetheless, production remains near the low end com...

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Middle East, Mediterranean, and Africa Regional Analysis

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