USDA released its Cattle on Feed report today. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 11.7 million head, 105 percent of May 2020.
Average daily marketings were 88,901 in April, compared to 88,696 in March – April had 22 work days, the same as last year (March had 23 days). Marketings as a percent of cattle on feed inventory in April were 16.5 percent, compared to 17.1 percent in March. With the slow pace of slaughter this spring it has been a case of “hurry up and wait” for fed cattle. This is the second largest May inventory on record – and the fourth consecutive month that has been the second largest monthly inventory since record keeping started in 1996...
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...
