USDA released its monthly Cattle on Feed report Friday; the inventory of cattle and calves on feed was 11.7 million, or 98 percent of November 2021.
This is the second consecutive month, and only the second month of all 2022, where on-feed inventories are lower than year ago levels, signaling the trend toward lower fed cattle inventory that will extend into 2023 due to drought conditions this year pulling cattle forward.
The average daily marketings in October were 90,100 based on 20 days; that compares to 89,550 in October 2021 with the same number of days, and 84,545 last month based on 22 days in September. Marketings as a percent of inventory dropped below current at 15.4 percent.
Placements came in below pre-report...
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...
