USDA’s monthly Cattle on Feed report was released today. Total cattle on feed amounted to 11.5 million head, or 97 percent of last year. Placements were higher than forecast, and marketings were near pre-report estimates.
This was the quarterly report showing steers and heifers on feed. Steers made up 61 percent of the cattle on feed, while heifers accounted for 39 percent. Both groups were down 3 percent from last year, with heifers holding steady. The beginning-of-the-year Cattle Inventory report will be released on 30 January and will show the total number of heifers, providing an indication of herd rebuilding. By state, cattle inventory was up in Nebraska, steady in Kansas, and down to 91 percent in Texas, illustrating the effect...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
