Cattle on Feed Preview 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 October at 98.9 percent of last year. This would be the second month in a row where inventory was below the same month in the previous year after 32 consecutive months of year-to-date increases.
The average trade guess for marketings in the month comes in at 101.1 percent of last September. As was the case last month, the range of pre-report trade estimates was pretty tight for inventory (between 97.7 and 99.8 percent) and marketing (between 98.2 and 101.5 percent), but predictions on placements were a wildcard again. The average was 101.5 percent of last year, but the...
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...
