USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 November at 98 percent of November 2021. All of the analysts’ forecasts were below 100 percent, ranging from 97.8 to 99.1 percent of a year ago. This would be the second consecutive month, and second month of 2022 where on-feed inventories are lower than year ago levels.
Placements in October are forecast to be 96 percent of last year. If these two forecasts are accurate, the 1 November inventory on feed would be the lowest in four years and placements would be the lowest of any October since 2012. That is significant since October placements are a big portion of the finished cattle leading...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
