USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.2 percent of last year with the range of estimates between 99.4 percent and 100.3 percent of 1 February 2024.
Marketings are estimated to be 98.2 percent of last year, coming in at a range of 97.7 percent to 98.7 percent. Placements, the most difficult category to estimate, are expected to be between a wide range of 98.9 percent of last year and 92.6 percent, for an average of 95.9 percent. The combination of relatively larger marketings and no change in placements would pull down the number of cattle on feed on 1 February to below the prior February. Sooner or...
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...
