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 February at 101 percent of February 2020.
Placements in January are expected to be 100 percent of last year and marketings are forecast at 95 percent. Part of the drop might have been anctipated; January 2021 had two fewer working days compared to 2020, but on the other hand Sauturday kills were up. For the month, federally inspected slaughter of fed cattle was up 3.7 percent – and cow and bull slaughter are up 3.4 percent as well. Nonetheless, with heavy placements from May onward, there are a lot of long-fed cattle available.
Large inventories of cattle on feed for more...
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...
