USDA released its monthly Cattle on Feed report today and the semi-annual Cattle Inventory report. The number of cattle on feed – at feedlots of 1,000 head or more capacity – as of 1 July was 11.3 million, just slightly above 1 July 2021. Steers made up 61 percent of the inventory at 6.9 million head, 99 percent of last year, and heifers made up 39 percent at 4.45 million head, which was 103 percent of year ago levels.
Feedlots of 1,000 head or more capacity had 84.6 percent of the on-feed inventory; total inventory on feedlots of all sizes was 13.4 million head; the same as last year. The average daily marketings on large feedlots in June were 93,682 based on 22 days in the month of June. Marketings as a percent...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
