Tomorrow, USDA will release its monthly Cattle on Feed report. Analysts’ pre-report estimates peg the total number of cattle on feed as of 1 August at 98 percent of a year ago. The range of estimates was fairly narrow between 97.7 and 98.8 percent. The implied inventory of cattle on feed would be 11.08 million head, which would be the lowest 1 August inventory in four years after the 1 July inventory was at its 10-year low point.
Seasonally, August and September are low points for cattle on feed inventories; the number of cattle in feed yards starts to increase in Q4, with heavier placements typically starting in September. In 2020, however, there was a record large 1 September inventory (dating back to 1996 when record...
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...
