USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 December at 97 percent of December 2021. All the analysts’ forecasts were all below 100 percent, ranging from 96.5 to 97.6 percent of a year ago. This will end the year with the third consecutive month, and third month of 2022 where on-feed inventories are lower than year-ago levels – a big turnaround based on drought fueled herd liquidation. It would also be the first December reduction in inventory since 2016.
Placements in November are forecast to be 96 percent of last year. Marketings are expected to be 101 percent of last year, based on the pace of slaughter. Outside of th...
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...