Cattle on Feed Preview USDA’s monthly Cattle on Feed report will be released tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 August to be 100.6 percent of last year with July placements expected to be 99.5 percent. The trade guess for marketings in July is 106.8 percent of July 2018. Note that July had one more weekday this year than in 2018.While the total inventory on feed would be a record for 1 August, the pace of growth is slowing (see chart below). Combined with expected placements falling off, tomorrow’s report is expected to be bullish. Providing further support for the bulls is today’s Cold Storage report, which shows 601.790 billion pounds of pork despite record-h...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.