Last week’s Cattle on Feed report shows there are a lot of cattle in the pipeline while the sector is struggling to figure out where holiday beef demand is headed. To that point, look at the total of wholesale choice cuts loads sold in October - well above the five-year average as retailers seemingly are not as active in covering ahead for holiday demand.
Per capita consumption of beef for Q4 2020 is projected to be 15.1 pounds, down from 14.4 in Q3, but up over 2019 Q4 per capita consumption of 14.8 pounds. Exports for Q4 are projected to be flat and to fall in Q1 2021, and imports of beef and feeders are both up so far. Strong demand for hamburger and processing grade beef has imports up over last year, and beef production is sea...
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...
