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 February.
Average daily marketings were 88,650 in January based on 20 work days (one more than in 2021) when marketings were 96,200. December 2021 average daily marketings were 84,409 based on 22 workdays. Marketings as a percent of cattle on feed inventory in January stayed below current at 14.5 percent – that compares to 15.1 percent last January, 15.4 percent in December and 15.6 percent in November. In a nutshell, there are more cattle on feed despite a shrinking overall herd. Based on t...
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...
