USDA will release its Cattle on Feed report tomorrow and it could be a record. Analysts’ pre-report estimates peg the total number of cattle on feed as of 1 February at 100.7 percent of a year ago, which was the second highest February inventory. The range of estimates was between 101.1 and 101.7 percent. The implied inventory of cattle on feed would be 12.18 million head.
Marketings in January are expected to be 97.1 percent of last year. There was one more day in January 2022 at 20 than in 2021, so the pace of average daily marketings was slow. But it is worth noting that the slaughter rate in February has picked up markedly, implying plants are back to having worked through supply chain and labor constraints. Average...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
