USDA released its monthly Cattle on Feed (COF) report this afternoon, which was bullish as expected. The total inventory in feedlots with capacity of 1,000 head or larger was 11.1 million head, the 32nd consecutive month of year-over-year increases and the largest total for 1 August since the series began in 1996. However, the rate of growth slowed dramatically. The 1 August inventory on feed was only slightly higher than August 2018.
The table above shows a big jump in July marketings, partly due to an extra day in that month versus a year ago. Nonetheless, average daily marketings totaled 86,857 head based on 23 slaughter days (excluding Saturdays) against 85,000 head in July 2018. The pace of July marketing picked up to 18 percent of...
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: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
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...
