USDA released the monthly Cattle on Feed report today; the total inventory of cattle on feed in feedlots of 1,000 head or more capacity was 11 million head. Following is a summary of today’s report.
The report was in line with pre-report expectations, except for placement. To be fair, placements are the most difficult category to predict, but the past five months have been exceptionally difficult. July placements surprised to the downside, but that comes after four consecutive months where placements exceeded pre-report expectations. As we have noted through the spring and into last month, these higher-than-expected placements for the first half of the year would start to undermine expected placements in the second half of the year...
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...
