Tomorrow, USDA will release the semi-annual cattle inventory report reflecting cattle numbers as of 1 January. The pre-report consensus estimate is the total number of cattle will come in at about 98 percent of last year, indicating the contraction cycle continued through 2023. January 2023 saw the smallest beginning of the year cattle inventory since 2015; this year’s expected decrease in the herd would make it the smallest since 1951.
Expectations for tomorrow’s report are for almost every category to be down meaningfully from last year, except for beef replacement heifers. The average estimate is just marginally below last year’s total, but that range of forecasts is wide, from 97 percent at the low end to 104...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
