USDA today released the monthly Cattle on Feed (COF) report for 1 March. It showed the total inventory in feedlots of 1,000 head or more capacity was 1.8 million, the 27th straight month of year-over-year increases.
Marketings were essentially flat, up only 8,000 head (or less than a half-percent from February 2018). Other disappearance in February totaled 66,000 head, and net placements were 1.79 million head. The pace of marketing became much less current in February. As a percentage of on-feed inventory, marketings were 14.2 percent, down from 16.8 percent in January. Based on 20 slaughter days in February (excluding Saturdays), average daily marketings were 84,000 head. The number of cattle on feed for more than 120 days on feedlot...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
