USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 August at 100.8 percent of August 2021. The range of analysts’ guesses were from 100 to 101.1 percent of a year ago.
Placements during July are expected to be 98.8 percent of last year. The range was from 95 to 101.3 percent straddling both sides of last years’ placement volume. Marketings in July are forecast to be 96.9 percent of last year. The range was 96 to 102.1 percent. Part of the reduction was due to one less slaughter day in July 2022 compared to July 2021. On the year to date, if the pre-report estimate on marketings is correct, this would be a net drop as cumulative...
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...
