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: 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...
