USDA released its monthly Cattle on Feed report today; the inventory of cattle and calves on feed on feedlots with 1,000 head capacity or more on 1 May was 11.6 million, or 97 percent of May 2022, in line with expectations. That total matched the 1 April inventory. This is the eighth consecutive month where on-feed inventories are lower than year-ago levels.
For the second month in a row, placements came in above expectations; this month the analysts’ consensus guess was 94 percent with placements at 96 percent of last year. Last month the consensus pre-report estimate was placements would drop to 95 percent of last year, but actual placements were 99 percent of the prior year.
Placements and marketings are in somewhat of...
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...
