USDA released the monthly Cattle on Feed (COF) report for 1 April on Thursday, which was a day early because of the Good Friday holiday. The mostly neutral-to-slightly bearish report was in line with industry expectations.
The total inventory of cattle on feed in feedlots of 1,000 head or larger capacity was 12 million, the 28th straight month of year-over-year increases and the largest number for 1 April since the series began in 1996. There is evidence of herd liquidation; the 12 million head on feed included 7.45 million steers and steer calves, 99 percent of 2018, and 45.1 million heifers and heifer calves, 108 percent of last year. The pace of marketing is still not current, slowed by the many weather issues in December through la...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
