USDA’s August cattle on feed report was released Friday, with the total number of cattle in feedlots with a capacity of 1,000 head or more amounting to 11.1 million head, 102 percent of last year and the same as last month.
Placements dropped in July to their lowest total for the month since records began in 1996. Marketings followed suit, reaching the lowest total recorded for July for the second consecutive month.
Again, the increase in the total on-feed inventory came not from more cattle being placed in feedlots but from lower marketings. It takes longer to move cattle through the system as they are being fed to heavier weights. As a percent of total inventory, marketings in July 2026 were below the current level at 14.6 percent...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
