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: 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...
