The cattle on feed (COF) inventory as of 1 October set a record for the month at 11.4 million head, which was also the fifth consecutive new monthly record and the 21st month in a row that the total was larger than the year before.
As noted here prior to the report, September placements were expected to be 96.7-105 percent of last year, but all those guesses turned out to be too high. After four consecutive months of being larger than the previous year, this time they reached only 95 percent.
While there is a record cattle inventory, that growth is apparently starting to slow. The September-November placements are typically the heaviest of the year. Moreover, they were particularly strong last year with the September-December placemen...
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...
