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: 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...
