USDA released its monthly cattle on feed report; it was on the bearish side with record placements for December that were well above pre-report expectations and marketings 1 percent below pre-report forecasts falling below current.
Average daily marketings were 84,409 in December based on 22 workdays (23 weekdays and one holiday). December 2020 also had 22 days, and average daily marketings were 84,227. November 2020’s daily marketings averaged 85,136 (22 workdays) and October was 112,250 head (20 days).
Marketings as a percent of cattle on feed inventory in December slipped a bit further below current at 15.4 percent; that compares to November at 15.6 percent, despite the fact that cattle marketings were the highes...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
