USDA will release its Cattle on Feed report tomorrow and it could be a record – for the second month in a row. Analysts’ pre-report estimates peg the total number of cattle on feed as of 1 March at 101.1 percent of a year ago, which was the highest March feed lot inventory on record at 12 million head. The range of estimates was between 100.8 and 101.5 percent. The implied inventory of cattle on feed would be 12.13 million head.
Source: Dow Jones, WPI Marketings in February are expected to be 104 percent of last year. Note that there were the same number of weekdays in February 2021 and 2022. Noteworthy is the fact that placements are expected at 102 percent of 2020, which was the month before COVID, implying pac...
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...
