USDA released the monthly Cattle on Feed report today. The total inventory of feedlots of 1,000 head or more capacity is 11.4 million head, 98 percent of last year.
This weekend commences the summer grilling season. Placements were 1.6 million head, 97 percent of last year, compared to 1.843 million head in March. Marketings at 1.83 million head were 97 percent of April 2024, but up from 1.72 million head in April. While the overall numbers were in line with pre-report expectations, this is the lowest placements have been since 2020, during the height of COVID at 13,100 more, and the second lowest since 2015 when the cattle herd was in the last rebuilding phase when cattle placements were 62,000 head lower.
As a percenta...
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...
