USDA released its monthly Cattle on Feed (COF) report on Friday. The report was neutral, with inventory, marketings and placements all coming in right at the industry average pre-report estimates. The 1 January inventory of all cattle and calves on feed in feedlots with 1,000 head or more capacity was 12 million head and December placements were 1.83 million head.
Marketings in November were 1.83 million head. The average daily marketing of cattle was 83,182 head based on 22 weekdays in December, which was one more day than the year prior. Marketings for the month reamined steady at 15.2 percent of the total inventory on feed, compared to 15.1 percent in November.
Placements by weight catgeory were the greatest for cattle...
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...