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: 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...
