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 million head, up from March 2020 and in-line with pre-report expectations. This is the second largest on-feed inventory for February since records started in 1996.
Average daily marketings in February were 91,158 compared to 95,895 in January. Both months had 19 work days, but like January, Saturday kills in February were up helping move volume through the pipeline. Marketings as a percent of cattle on feed inventory in February were less current at 14.4 percent; in January there were 15.1 percent. Net placements in February were 1.63 million head, and therefore, the number of cattle on feed for more than...
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...
