Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted to 11.7 million head, 102 percent of last year.
Placements were down 10 percent, missing the mark set by analysts’ pre-report estimates by a wide margin, and marketings were down 12 percent, coming in just under the pre-report estimate, but also at the second-lowest total for May since the series began in 1996. Yet, total inventory was up 2 percent based on the heavier weights to which cattle are being fed. The supply on feed is the highest it...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
