USDA’s monthly Cattle on Feed report was released today at 3 p.m. Total cattle on feed amounted to 10.9 million head, 98 percent of last year.
Total placements were down 6 percent but were above the average pre-report estimate. Marketings were down 6 percent, in line with pre-report estimates.
Overall, placements by weight were 21.2 percent under 600 pounds, with 36.6 percent under 700 pounds, compared to 32.2 percent last month and 38 percent last year. Placements by weight category were below year ago numbers for all categories except for cattle under 600 pounds, a reverse from July 2024 where all categories were less than 2024 except for cattle weighing more than 1,000 pounds.
As a percentage of to...
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...
