USDA will release its Cattle on Feed report tomorrow and it could be a record – for the second month in a row. Analysts’ pre-report estimates peg the total number of cattle on feed as of 1 March at 101.1 percent of a year ago, which was the highest March feed lot inventory on record at 12 million head. The range of estimates was between 100.8 and 101.5 percent. The implied inventory of cattle on feed would be 12.13 million head.
Source: Dow Jones, WPI Marketings in February are expected to be 104 percent of last year. Note that there were the same number of weekdays in February 2021 and 2022. Noteworthy is the fact that placements are expected at 102 percent of 2020, which was the month before COVID, implying pac...
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...
