World Perspectives
livestock

Cattle on Feed Report: Neutral

USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.5 million head, just slightly below last year. 

Marketings were 1.52 million head, at 93 percent of last year, in line with the pre-report expectations, and the second lowest on record since 1996. Marketings were down on fewer placements in previous months and less aggressive demand from packers. As a percentage of total inventory, February marketings were well below current-year levels, at 13.1 percent in 2026 compared to 14.1 percent in 2025. There were 20 slaughter days in February 2026 and 2025. Total daily marketings were 76,100 in February 2026 versus 81,650 in February 202...

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As you probably guessed, the ongoing conflict in the Middle East continues to drive market sentiment for energy markets and tanker vessel rates. While there have been several developments in the region this week, the big picture factors are the same: the Strait of Hormuz is all but sealed to ve...

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From WPI Consulting

Illuminating the value of technical research

On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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