USDA released its monthly Cattle on Feed report today; the inventory of cattle and calves on feed on feedlots with 1,000 head capacity or more on 1 January was 11.7 million, or 97 percent of January 2022. This is the lowest January inventory since 2018. The report was generally in line with pre-report expectations.
This is the fourth consecutive month where on-feed inventories are lower than year ago levels, a trend that is almost certain to continue through much of 2023 which saw nine of the 12 months higher than year-ago levels.
The average daily marketings in December were 82,905 based on 21 days; that compares to 87,857 in December 2022 with the same number of days, and 94,550 last month based on 20 days in November. Marketi...
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...
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...
