USDA released the monthly Cattle on Feed and quarterly Hogs and Pigs reports today after the markets closed, a day early given the coming holiday schedule. The total inventory of cattle on feed as of 1 December was 11.7 million head or 102 percent of one year ago. This is now the 23rd consecutive month that inventory was larger than the year before. Placements in November at 2 million head, however, were only 95 percent of November 2017. Marketings were 1.87 million head, 101 percent of last year and the largest volume on record for the month of November.
The report was in line with pre-report estimates for the most part. Inventory and marketings were spot on with expectations, while the guesses for placements averaged 93 percent of las...
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...
