Two key cattle reports came out this afternoon after the market close, Cattle on Feed and the semi-annual Cattle Inventory. The Cattle on Feed report was largely in line with pre-report expectations. The total inventory of cattle on feed in feedlots of 1,000 head or larger capacity was 11.4 million head, which was just slightly below last year’s level. That inventory made up 84 percent of the total 13.6 million head of cattle on feed in all feed lots across the country.
Steers and steer calves were 61 percent of the inventory at 7.03 million head, about the same number as last year; heifers and heifer calves were 4.41 million head which was 99 percent of June 2019. The 61 to 39 percent steer-to-heifer ratio is the same...
What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
