USDA’s monthly Cattle on Feed report was released today because the markets will be closed tomorrow for Good Friday. The total inventory of cattle on feed was 11.6 million head on 1 April, down 2 percent from April 2024. Placements in feedlots during March totaled 1.84 million head, 5 percent above 2024. Net placements were 1.79 million head. Marketings of fed cattle during March totaled 1.73 million head, 1 percent above 2024.
This came out close to the pre-report guesstimates. Analysts’ pre-report consensus estimates were for the total inventory on feed to be 98 percent of last year with the range of estimates between 97.5 percent and 99 percent of 1 April 2024. Marketings are between 99 percent and 101 percent, w...
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...