The inventory of cattle on feed (COF) set a new record for the month of August at 11.093 million head (the monthly data goes back to 1996), 489,000 more than in August 2017. However, the total was down 194,000 head from the 1 July inventory. The inventory report was exactly in line with pre-report expectations, although placements were higher than anticipated.
The distribution of placements by weight class is detailed below; the higher number versus a year ago in the lightest and heaviest categories occurred in bookend fashion, but it is the gain in feedlot inventory that will have the biggest impact from lighter cattle.
Overall, the report was bearish. This trend of more cattle marketed and a greater number in the pipeline sustaining...
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...
