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: 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...
