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: 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...
