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 February was 11.7 million, or 96 percent of February 2022. The report was generally in line with pre-report expectations; only placements were below the pre-report estimates.
This is the fifth 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 9 of the 12 months equal to or higher than year ago levels.
The average daily marketings in January 2023 were 92,350 based on 20 days. That compares to December at 82,905 based on 21 days and January 2022 at 84,428 over 21 days. Marketings as a pe...
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...
