The 1 June cattle on feed (COF) inventory set a new June record at 11.6 million head. That was down slightly from the previous month, which was the second-highest May inventory since the data started being kept in 1996. The 1 June total also marked the 18th consecutive month that it was larger than the year prior. The placements in May were about the same as May 2017 but did come in higher than the industry’s pre-report expectations.
The only categories to decrease were the 700-799 pounds and the 800-899 pounds classes.
Beef supplies are large, including imports. Beef in cold storage is 113 percent of last year’s total. This will supply the high demand summer months with the key 4th of July holiday period coming up. Cattle...
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...
