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 99.1 percent of last year with the range of estimates between 98.7 and 99.7 percent of 1 September 2024. Those estimates imply an on-feed inventory of 11.907 million head.
Marketings are forecast at 87.1 percent of last year in a range of 86.5 to 87.6 percent. If the analysts are correct, this would be the lowest fed cattle marketing volume since August 2015. Part of the expected decline in marketings is due to one less slaughter day from a year ago, however, cattle supplies remain tight which is the driver of lower marketings. Placements are expected to be down as well, facing the s...
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...
