USDA released its monthly Cattle on Feed report today; the inventory of cattle and calves on feed was 11.2 million, 101 percent above August 2021, and in line with expectations. Placements in July were up well above expectations – the consensus forecast was 99 percent of last year, and the highest forecast was 101 percent, below the actual. Marketings came in below forecasts, adding a bearish tone to the report.
This is the second highest total on feed for August on record making 2022 a big year for inventory in feed lots.
The average daily marketings in July were 86,905 based on 21 days, just slightly below June at 87,000 based on 22 slaughter days, and up from July 2021 at 86,318 based on 22 days. Marketings...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
