With the Good Friday holiday tomorrow, USDA will release the monthly Cattle on Feed report, detailing the number on feed as of 1 April, today after the markets close. Pre-report forecasts peg the total inventory in feedlots of 1,000 head capacity at 101.8 percent of last year. Note that the previous month’s report was expected to show a slight reduction, but it instead came in with the 27th straight month of year-over-year increases.
Despite the continuing expansion of cattle on feed inventory (assuming the expectations are correct this month), there are several factors to consider in the cattle market equation. First, the African swine fever (ASF) situation in China increases export demand for pork and helps ensure both pork and h...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
