According to USDA’s latest agricultural trade data, the overall ag trade balance in March was negative. The U.S. ran a trade deficit of $502 million for the month, based on exports of $11.885 billion and imports of $12.386 billion. It is only the sixth time in the past 63 months, but second time in 2020 and the fourth time in the past 12 months.
The trade data come at a particularly significant time as there are commodity surpluses in the U.S., exacerbated by the COVID-19 situation, but also looming food shortages particularly in the protein sector. A number of major retailers are moving to place limits on consumers’ purchases of beef, pork, and poultry, and Brazilian and Australian packers are eyeing the retail shortages as...
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...
