USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed to be 102 percent of the prior year for the third consecutive month, and overall larger than the previous year for the fourth consecutive month.
The analysts’ pre-report estimates of total inventory were virtually unchanged from last month, but the range of forecasts for placements in December widened over the November predictions, but with the same average at 96 percent, which implies 1.7 million head. The forecast for marketings is 99 percent of last year, which would be 1.73 million head.
If the pre-report expectations are current, the on-feed inventory would be up from last year...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
