USDA released the monthly Cattle on Feed report today. The total inventory in feedlots of 1,000 head or more capacity is 11.6 million head, 98 percent of last year.
Placements were 1.55 million head, 82 percent of last year, and marketings at 1.74 million head were 91 percent of February 2023. What's likely affecting the placement data more than anything is the continued absence of Mexican feeder cattle supplies compared to years past. It's important to note that although Mexican feeder cattle imports resumed in February after the country reopened the border following the New World screwworm case, imports from Mexico have remained drastically lower than in years past for several reasons. The two biggest reasons are...
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...
