USDA released monthly trade data today, including live animal trade in North America. Feeder calves from Mexico through May, at 372,342 head are down 31 percent; feeder calves from Canada at 119,071 head are up more than 200 percent.
Feed shortages, drought, and rail problems transporting feed have impacted the Canadian shipments to the U.S. For Mexican feeders, the five-year 2016-2020 average has been about 548,538 head for the January through May period; last year imports were down slightly from that average, but this year have dropped more than 40 percent. There are likely a few things going on affecting imports of Mexican feeder calves. Typically, more than a third of those cattle imported are 400 pounds or less and go t...
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...
