USDA released its monthly Cattle on Feed (COF) report last Friday. The total number of cattle in feedlots with a 1,000 plus capacity as of 1 April was 11.7 million head or 107 percent of last year. It was also the same total as on 1 March 2018 when the inventory showed 9 percent growth. Following are a few notable metrics:
This was the sixth month in a row that the inventory has grown 5 percent or more. This was 16th consecutive month that the inventory has been larger than the year prior. This was the second-largest 1 April inventory on record.
Of the 12 states where inventory numbers are reported, only Idaho saw a decrease at 96 percent of 2017. Signs that this might be the crest of the bow wave include the reduction in 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...
