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: 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...
