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 99.9 percent of last year’s 12 million head. The range of estimates was between 99.4 percent and 100.3 percent of 1 December 2023. 12192024dj.png 18.93 KBMarketings are estimated to be 98.2 percent of last year which follows slaughter totals for the month and the calendar as there was one less slaughter day in November 2024 compared to 2023. Placements, the most difficult category to estimate, are expected to be at 95.9 percent of last year. 12192024dj2.png 23.63 KBIf the placement estimate is correct, that would be the lowest volume of placements for November since 2015, and about eq...
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...
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