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 95 percent of April 2022, which was the highest total on record for the month of April.
There was at least one prediction of high placements in March, up to 99 percent of last year’s 1.99 million head, but the average came out to 95 percent. Much tighter ranges for inventory and marketings as typical. Marketings for the month are expected to be 99 percent of the year ago total of 2 million head.
The drops in total expected total inventory and placements, and the spread with markets helped boost the June and August live cattle contracts, while the April contract followed cash prices do...
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...
