USDA released the monthly Cattle on Feed report today. The total inventory in feedlots of 1,000 head or more capacity is 11.6 million head, 98 percent of last year.
Placements were 1.55 million head, 82 percent of last year, and marketings at 1.74 million head were 91 percent of February 2023. What's likely affecting the placement data more than anything is the continued absence of Mexican feeder cattle supplies compared to years past. It's important to note that although Mexican feeder cattle imports resumed in February after the country reopened the border following the New World screwworm case, imports from Mexico have remained drastically lower than in years past for several reasons. The two biggest reasons are...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
