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: 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...
