World Perspectives
livestock

Cattle on Feed Report: Inventory Up, Placements and Marketings Way Down

USDA released the monthly Cattle on Feed report today. Total inventory was up as expected, but a big drop in placements and a lower-than-expected volume of marketings made the report bullish.  

First, let’s look at marketings, which came in only slightly lower than expected, but still the second lowest for June since data have been kept dating back to 1996. There were five weekends in June 2024, with 19 working days, compared to 21 working days in 2023. Average daily marketings in June were 94,000 compared to 93,190 last year. Marketings as a percent of inventory fell just below current at 15.8 percent. Last year saw marketings as a percent of inventory at 17.4 percent. However, marketed cattle are heavier this year, keep...

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Summary of Futures

May 26 Corn closed at $4.465/bushel, up $0.0075 from yesterday's close.  May 26 Wheat closed at $5.74/bushel, down $0.0325 from yesterday's close.  May 26 Soybeans closed at $11.705/bushel, up $0.065 from yesterday's close.  May 26 Soymeal closed at $314.7/short ton, up $1.8 from...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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