USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 September 100 percent of September 2021. The range of analysts’ guesses were tight; from 99 percent to 100.5 percent of a year ago. The implied inventory of cattle on feed from the average forecast would be 11.2 million head, the same as last month.
The potential mystery in tomorrow's report could be placements. The range of estimates is wide – from 93 percent to 101 percent of last year. Note the reported average expectation is an Olympic average of the analysts' estimates – throwing out the high and the low before calculating the average. The average estimate is 98.5 per...
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...
