USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 September at 97.6 percent of September 2022.
Placements during August for the 1 September inventory are forecast to be 93.6 percent of last year. The spread in the chart below shows that most of the predictions were grouped at the low end of the range, but there was at least one outlier predicting that placements were at nearly 98 percent of last year. Presumably, this would have been based on continuing drought conditions in certain regions, increasing imported feeder cattle from Mexico (but those were offset by a drop from Canada in August).
Marketings in August are expected to come in at 94...
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...
