USDA released its monthly Cattle on Feed report today; the inventory of cattle and calves on feed was 12 million, 2 percent above May 2021, and the highest May inventory on record. As we mentioned yesterday in the report preview, in five months of 2022, the cattle on feed inventory has set a monthly record four times – February, March, April, and May. January 2022 saw the second largest January inventory on record.
The average daily marketings in April were 90,143, or a 101.4 percent of the 88,901 in April 2021 (on 22 days). That is also up from March 2022 (23 day) when average daily marketings were 86,957 head. Marketings as a percent of inventory on feed are 15.8 percent. As noted yesterday, slaughter has been strong...
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...
