Most eyes on today’s WASDE were looking at the crop side since this is the first report with field test data. That feedback, however, is important to cattle and hog producers looking forward as it will give insight into feed costs moving forward into 2024 as cattle supplies are extremely tight, and hog producers have been battling negative margins for most of the year. In the end, there was not much change. However, on the animal side, the rally in the fed cattle market is expected to rage on, while annual average hog prices for next year finally see some upward movement.
Since last month, hog prices are forecast to finish the year at an average that is $3/cwt lower than the August prediction, dropping fr...
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...
