USDA released the monthly Cattle on Feed report today. The total inventory of feedlots of 1,000 head or more capacity is 11.4 million head, 98 percent of last year.
This weekend commences the summer grilling season. Placements were 1.6 million head, 97 percent of last year, compared to 1.843 million head in March. Marketings at 1.83 million head were 97 percent of April 2024, but up from 1.72 million head in April. While the overall numbers were in line with pre-report expectations, this is the lowest placements have been since 2020, during the height of COVID at 13,100 more, and the second lowest since 2015 when the cattle herd was in the last rebuilding phase when cattle placements were 62,000 head lower.
As a percenta...
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...
