USDA released its Cattle on Feed report today. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 12 million head, up from March 2020 and in-line with pre-report expectations. This is the second largest on-feed inventory for February since records started in 1996.
Average daily marketings in February were 91,158 compared to 95,895 in January. Both months had 19 work days, but like January, Saturday kills in February were up helping move volume through the pipeline. Marketings as a percent of cattle on feed inventory in February were less current at 14.4 percent; in January there were 15.1 percent. Net placements in February were 1.63 million head, and therefore, the number of cattle on feed for more than...
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...
