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: 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...
