USDA released the monthly Cattle on Feed report today; the total inventory of cattle on feed in feedlots of 1,000 head or more capacity was 11.1 million head. Following is a summary of today’s report.
Again, following a theme for this year so far, the report was in line with pre-report expectations, except for placements – which is the most difficult category to predict, but the past six months have been exceptionally difficult. August placements surprised to the upside by 1 percent – or slightly more. The actual Olympic average of the pre-report analysts’ expectations was 93.6 percent of last year (rounded up to 94 percent). So, placements were 1.4 percent larger than last year which given the thin state of the f...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
