USDA released its Cattle on Feed report today. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 11.5 million head, up 105 percent from April 2020. This is also the quarterly report where the percent of steers and heifers are reported. Inventory included 7.41 million steers, 105 percent of 2020 and 62 percent of the total inventory; heifers were 4.49 million head, 107 percent of 2020 and 38 percent of total inventory.
Average daily marketings were 88,696 in March compared to 91,158 in February (March had 23 work days compared to 19 in February). Marketings as a percent of cattle on feed inventory in March were current at 17.1 percent, compared to 14.4 percent in February. Placements c...
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...
