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: 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...
