USDA released the monthly Cattle on Feed report today. All categories came in near expectations, making the report neutral.
August placements at 1.98 million head were above the average for the month during this cattle cycle of 1.93 million head, but still below last year. As WPI noted yesterday in its report preview, feeder cattle sales in August were down from year-ago volumes, but lower feed costs, more dry conditions, and higher feeder cattle imports from Mexico likely put a floor on the volume.
August marketings as a percentage of inventory was 16.2 percent, up from 16.7 in July. Last year saw marketings as a percent of inventory at 16.9 percent. On a daily basis, marketings were 82,636 in August compared to 81,957 in Aug...
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...
