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: 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...
