USDA released the monthly Cattle on Feed (COF) report for 1 April on Thursday, which was a day early because of the Good Friday holiday. The mostly neutral-to-slightly bearish report was in line with industry expectations.
The total inventory of cattle on feed in feedlots of 1,000 head or larger capacity was 12 million, the 28th straight month of year-over-year increases and the largest number for 1 April since the series began in 1996. There is evidence of herd liquidation; the 12 million head on feed included 7.45 million steers and steer calves, 99 percent of 2018, and 45.1 million heifers and heifer calves, 108 percent of last year. The pace of marketing is still not current, slowed by the many weather issues in December through la...
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...
