USDA released its monthly Cattle on Feed report today; the inventory of cattle and calves on feed was 12.1 million, 2 percent above April 2021, and the highest April inventory on record. In four months of 2022, the cattle on feed inventory has set a monthly record three times – February, March and April. January 2022 saw the second largest January inventory on record.
Only marketings came in as expected per the pre-report estimates. The average daily marketings are 86,957 based on 23 days in March. Marketings as a percent of inventory on feed are current at 16.5 percent. As noted yesterday, slaughter has been strong, which is a typical seasonal pattern. However, inventories typically decline as placements slow down whi...
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...
