USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 November at 101.9 percent of November 2022. If accurate, this would be the second month in a row where inventories were higher than the year prior, after 11 consecutive months with on-feed inventories lower than prior year levels, stretching back to late 2022.
Placements during October for the 1 November inventory are forecast to be 106.1 percent of last year, again the second month of a big increase over last year. Placements in September were 2.21 million head, also 106 percent of the year before, however October typically sees the highest placements of the year after calves come off grass.
For th...
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...
