USDA released its monthly Cattle on Feed (COF) report Friday afternoon. For the first time in 33 months, the total inventory of cattle in feedlots of 1,000 head or larger capacity was smaller than the same month year-over-year. Inventory 11 million head, 99 percent of September 2018 (and compared to 11.1 million head on 1 August 2019). Furthermore, August placements were way down from last year and below the industry’s pre-report expectation.
August marketings came in as expected, down a bit from the 2 million head reported in July. August, however, had one less weekday than last August and July 2019. Average daily marketings were 88,636 based on 22 slaughter days (excluding Saturdays, but...
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...
