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: 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...
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Accountability and a comprehensive approach to export programming
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