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: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
