USDA released its Cattle on Feed report today, which was mostly in line with expectations. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 11.1 million head, in line with expectations. Placements and marketings were slightly lower than the average pre-report forecasts.
Average daily marketings were 86,364 head in July based on 22 work days comapred to 86,522 in July 2020 based on 23 slaughter days. Marketings as a percent of cattle on feed inventory in July were 17.2 percent, compared to 17.6 in July 2020.
Placements in July were 1.74 million head. The drop in placements compared to last year, when the market was coming out of COVID, is large, but the 2015-2019 five-year average i...
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...
