USDA released its monthly Cattle on Feed report today; the inventory of cattle and calves on feed on feedlots with 1,000 head capacity or more on 1 January was 11.7 million, or 97 percent of January 2022. This is the lowest January inventory since 2018. The report was generally in line with pre-report expectations.
This is the fourth consecutive month where on-feed inventories are lower than year ago levels, a trend that is almost certain to continue through much of 2023 which saw nine of the 12 months higher than year-ago levels.
The average daily marketings in December were 82,905 based on 21 days; that compares to 87,857 in December 2022 with the same number of days, and 94,550 last month based on 20 days in November. Marketi...
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...
