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: 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...
