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 March at 101.5 percent of March 2020. The range of estimates was very tight, between 101 percent and 102 percent.
Placements from February are expected to be 98 percent of last year. No doubt the weather mid-month had an impact on placements. As we reported on 25 February, cold weather, snow and ice drove feeder and stocker auctions down to 77,600 head. Auctions in the southern plans were sparse, including no sales in Texas and very light volumes in Oklahoma and Missouri. Add to that the price of corn and we expect some placements were delayed to gain more weight on pasture. Then...
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...
