USDA released its monthly cattle on feed report today; the inventory of cattle and calves on feed was 11.8 million, 101 percent above June 2021, and the highest June inventory on record. As we mentioned yesterday in the report preview, in the first six months of 2022, the cattle on feed inventory has set a monthly record now 5 times – February, March, April, May and now June. January 2022 saw the second largest January inventory on record. Placements and marketings were both slightly under forecasts, generally offsetting each other as factors in total inventory.
According to the monthly slaughter report, total slaughter was 104 percent of May 2021, with beef production at 103 percent based on 9 pound-lighter slaug...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
