USDA released its monthly Cattle on Feed (COF) report last Friday. The total number of cattle in feedlots with capacity of more than 1,000 as of 1 May was 11.6 million head, 105 percent of last year. This inventory was down slightly from the 1 April total of 11.7 million head. Just to keep a running score, please note the following:
This was the seventh month in a row that the inventory rose 5 percent or more. This was the 17th consecutive month that the inventory has been larger than the year prior. This was the second-largest 1 May inventory on record (as was the 1 April inventory for that month).
The USDA report totals were very much in keeping with the expectations of the trade prior to its release.
The only categories that h...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
