USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed as of 1 April to be 102 percent of last year; this would be the seventh consecutive month that inventories were equal to or larger than the previous year. March placements and marketings are expected to drop to 92 and 88 percent respectively of last year’s totals. Note the range of estimates for placements is the smallest in several months and the range for total inventory on feed is very tight, ranging from a low of 101.6 percent to a high of 102.5 percent.
As WPI has noted previously, the April cattle on feed report shows a quarterly breakdown between steer and heifers in the on-fee...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
