USDA released the monthly Cattle on Feed report on Friday; the total inventory of cattle on feed in feedlots of 1,000 head or more capacity was 11.9 million head. Following is a summary and breakdown of today’s report.
Placements in October were 104 percent of last year, below the pre-report consensus estimate. As WPI noted last week, October typically sees the highest placements of the year after calves come off grass. However, this year, with a surprisingly large volume of placements in September at 2.21 million head, the October placements were about 50,000 head fewer. Over the past 10 years, the average increase in October placements compared to September has been about 10 percent; this year October placements were about 2.25 p...
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...
