USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 April at 100.3 percent of April 2021. The range of analysts’ guesses were from 99.5 percent on the low side and 100.9 on the high side. The implied inventory of cattle on feed would be 11.9 million head.
Placements are expected to be 92 percent of last year. There is consensus for a drop from last year’s levels, but the wide range of estimates doesn’t imply a lot of confidence in that number. The range extends from a low of 87 percent to a high of 96 percent. Drought and pasture conditions could be a factor with early placements in February and March, or just fewer feeder...
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...
