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: 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...
