USDA released its Cattle on Feed report today, conforming with pre-report expectations. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 12 million head, the same as 1 January 2020 inventory.
December placements were above the pre-report average guess and the number of long fed cattle is increasing. Net placements in December were 1.785 million head, and therefore, the number of cattle on feed for more than 120 days is caclulated to be 4.1 million head, up from 3.89 million head. The number of cattle on feed for 150 days or more is calculated to be 2.1 million head, up from 2.05 million head last month.
December placements trended toward a mix of slightly heavier cattle compared t...
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...
