USDA will release its monthly Cattle on Feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 May 103.8 percent of 1 May 2020. The range of estimates was between 103 percent and 105.7 percent. The implied inventory of cattle on feed would be 11.6 million head.
Placements from April are expected to be 121 percent of last year. Pre-report estimates came in a range of 117 to 139.7 percent. Since May was really the crux of COVID last year, the estimate compared to 2019 94.4 percent. Marketings in April are expected to be 133 percent of last year; the estimates range from 131 to 136 percent of last year’s levels. Slaughter in April 2021 was also 133 percent of 2020. Curr...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...