USDA’s monthly cattle on feed report for 1 May will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 101.4 percent of last year. Those estimates imply an on-feed inventory of 11.535 million head. This is the first year-over-year increase in inventory since November 2024.
Source: Dow Jones, WPI Based on the pre-report expectations, the cattle on feed for 120 days would be 296,000 head, up 5.6 percent from a year ago, and the cattle on feed for 150 days would be 355,000 head, up 11 percent from last year. Placements in April are projected to be 103 percent of last year, though April 2025 was on the low end at 1.613 million head. Between a low bar to measure placements agains...
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...
