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: 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...
