USDA released its monthly Cattle on Feed (COF) report this past Friday. The on-feed inventory as of 1 January was 11.58 million head or 108 percent of last year, which is consistent with pre-report estimates. This is the third month in a row that the total has exceeded 11 million head and the 21st month of the last 24 that it has been larger than prior year levels.
Placements in December totaled 1.8 million head or 101 percent of December 2016, the largest monthly volume since September 2011. Marketings were 1.75 million head or 99 percent of year-ago levels.
Placements continue to be driven by poor pasture and range conditions due to drought, although they are steadily trending down since the record level in October. Those by state c...
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...
