USDA will release its monthly Cattle on Feed report tomorrow. Pre-report estimates from the industry put the total number of cattle on feed as of 1 November at 102 percent of last year. Marketings are forecast at 100 percent of last year, but placements are expected to be at only 91 percent of last year’s total. That placement estimate is the Olympic average of a range from 87 to 96 percent so there is widespread consensus that fewer cattle were placed in October, which was a record for the month.
In sum, with a drop in placements and likely the fifth consecutive month of fewer front-end cattle on feed more than 150 days, tomorrow’s report should have some bullish news. But, fed cattle prices continue to drop wit...
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...
