USDA released its monthly Cattle on Feed report today; the inventory of cattle and calves on feed in feedlots with 1,000 head capacity or more on 1 April was 11.6 million, or 96 percent of April 2022 – above expectations. That total matched the 1 March inventory, and the year-over-year drop in March. This is the seventh consecutive month where on-feed inventories are lower than year-ago levels, casting the dye for the rest of the year. This was also the quarterly report that provides a breakdown of steers and heifers. There were 7.12 million steers and steer calves, 94 percent from the previous year. This group accounted for 61 percent of the total inventory. Heifers and heifer calves accounted for 4.50 million head, 98 percent...
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...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.