USDA released its monthly Cattle on Feed report today. The inventory of cattle and calves on feed was 12.2 million, right in line with expectations, and as WPI mentioned yesterday, a record for the month of March. This is the second consecutive month with a record on-feed inventory. February 2022 was a monthly record and January 2022 saw the second highest inventory of cattle on feed, after a monthly record for placements in December 2021.
It was a strong fall run for feeding. Inventories of cattle on feed were also the second highest on record in September and October of last year and November placements were 104 percent of the prior year. But cattle inventory is down. As we reported in January:
Beef cows for breeding down 2 percent...
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...
