USDA released the monthly Cattle on Feed report on Friday. The total inventory in feedlots of 1,000 head or more capacity was 11.8 million head, 99 percent of last year. The smaller inventory was driven by increased marketings and decreased placements. The placement data was bullish, coming in well below pre-report expectations Placements were 1.64 million head, and marketings at 1.74 million head were 101 percent of December 2023. For the year, January through December, cumulative placements were down 1.5 percent and marketings were down 0.2 percent from 2023
As a percentage of total inventory, December marketings were 14.7 percent, compared to 14.3 percent in December 2023. Daily marketings were 79,182 last month versus 82,09...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
