Cattle on Feed Tomorrow USDA will release its monthly Cattle on Feed report. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 July to be 104.3 percent of last year, which would be the 18th consecutive month that it was larger than the year prior. June placements are expected at 101.3 percent of last year and marketings at 100.8 percent of June 2017 totals.
With 2018 half over, beef utilization is forecast to be 102.1 percent of 2017 with exports, especially to Asia, the driving force. Beef exports in May 2018 totaled 273 million pounds or 120.7 percent of year-ago levels. Shipments to all major destinations rose except for a 1.8 percent decline to Hong Kong. However, other destinations in Asia are dr...
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...
