The U.S. is well into the second wave of COVID cases and a number of states are reinstituting shutdowns and quarantines, especially targeting restaurants, adding another round of volatility to food service demand. Also, travel restrictions through the holidays will impact motor fuel use and thus biofuels.
The November data are not yet in, and the renewed lockdown came late in the month or early this month, but the recovery of sales as tracked by the Census Bureau for “eating and drinking places” – about 75 percent of all foodservice sales – stalled in October dropping $100 million from September after having rebounded every month since April. The rest of food service sales comes from the institutional demand, such...
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...