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...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
