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: 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...
