USDA released its monthly cattle on feed report today; the inventory of cattle and calves on feed was 11.3 million, which is slightly above September 2021. This is the second highest total on feed for September on record.
Marketings were in line with pre-report expectations. The average daily marketings in August were 87,130 based on 23 days (one more than August 2021). That is up from 86,905 based on 21 days in July 2022. However, marketings as a percent of inventory on feed were well above at 17.8 percent.
Placements were slightly above last year, and above the benchmark average pre-report expectation, but as we noted yesterday, there was one outlier forecast in the calculated average that pulled down the Olympic a...
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...
