The cattle on feed inventory set a new record for the month of July at 11.3 million head. The 1 July total was down 300,00 head from the 1 June inventory but 104 percent of the same period a year ago, making it the 19th consecutive month that the on-feed inventory at the beginning of the month was larger than the year prior.
Higher placements versus a year ago occurred in bookend fashion with both light and heavy cattle showing increases, but it is the gain in the former that will have the biggest impact.
June kicks off the heavy demand (read “grilling”) season for beef, and thus marketings were seasonally strong while placements dropped, which is the typical pattern for summer.
While imports of feeder cattle from Canad...
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...
