USDA will release its Cattle on Feed report tomorrow and the consensus pre-report analysts’ estimate is for the inventory of cattle on feed to be 100 percent of the prior year. If correct, this would be the fifth consecutive month that inventories were equal to or larger than the previous year. From September 2022 through October 2023, feedlot inventories were consistently below year ago levels.
The analysts’ pre-report estimates have marketings at 100 percent of last year and placements down to 88 percent of last year.
If the consensus average estimate for placements is correct, it would be the lowest January placement level since 2007. If placements come in near the low end of the range, they would be only sl...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
