USDA will release its monthly Cattle on Feed report tomorrow after the market closes. Pre-report estimates from the industry peg the total number on feed as of 1 February to be virtually the same as on the same date in 2018.
January placements are expected to be 93.5 percent of last year, and marketings are expected to be more current at 102.4 percent of a year ago. The tough weather conditions on feedlots this year have impacted feed efficiency and gains. Beef production to date is running about 1.7 percent below the same period last year, which compares to a slaughter rate that is down only 0.4 percent. Reduced tonnage of beef production – whether due to fewer cattle or lighter slaughter and carcass weights – should be bul...
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...
