USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 October at 99 percent of October 2021. The range of analysts’ guesses were all below 100 percent, ranging from 98.2 to 99.6 percent of a year ago. This would be the first month of 2022 where on-feed inventories are lower than year ago levels – though it still could be the second highest October inventory on record.
Placements in September are forecast to be 96 percent of last year. The range of forecasts was between 92 and 99 percent of September 2021. Marketings in September are expected to be 104 percent of last year reflecting the pace of slaughter. Slaughter vo...
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...
