USDA released its Cattle on Feed report today and the inventory of cattle in feedlots with a capacity of 1,000 head or more was 11.4 million head, that is 104 percent of 1 September 2019 and above pre-report expectations. It is a record large 1 September inventory dating back to 1996 when records began.
Marketings came in as expected and placements were well above the pre-report average, and near the very top of the range of expectations. This is in line with August slaughter data which shows beef production at 2.33 billion pounds based on 2.8 million head sluaghtered (96 percent of last year) and liveweights at 1,365, which was 27 pounds heavier (102 percent) of last year. Beef demand remains an unknown variable moving into Q4 202...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
