USDA will release its monthly Cattle on Feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 August at 101 percent of last year. Placements in July are expected to be 106 percent of last year and marketings are forecast at 99 percent. Post-COVID, feedlot inventories have gone back to normal levels and are following seasonal patterns, though the inventory for August is projected to be larger than August 2019. Typically, August and September are two low months for cattle on feed – with September at the bottom - but with spring packing plant interruptions and ongoing lower operating efficiency September might not be the lowest month this year.
Furthermor...
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...
