USDA released its Cattle on Feed report today. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 12.1 million head, up from February 2020 and in-line with pre-report expectations, but placements came in higher and marketings came in lower than expected. This is the second largest on-feed inventory for February since records started in 1996.
January placements and marketings were impacted by the calendar as there were two fewer working days in 2021 than in January 2020, but even taking that into account, the industry pre-report expectations were missed on the bearish side of both placements and marketings. Average daily marketings were 95,895 based on 19 work days, but Saturday kills in January were up helping...
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...
