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: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
