USDA will release its monthly Cattle on Feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 July at 100 percent of last year. Placements are expected to be 103 percent of last year and marketings are forecast at 101 percent.
As for the semi-annual inventory report, the July release is typically not full of surprises as it follows the January report. The cattle herd as of 1 January was 99 percent of last year, and last year’s July report was 100 percent of the 2018 report. Pre-report estimates from the industry peg the total inventory of cattle as of 1 July at 100 percent of last year. The range of analysts’ forecasts were very tight – a low of 99.6 per...
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...
