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: 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...
