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 11.6 million head, 102 percent of last year.
Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought conditions in much of the major cattle-feeding regions. Those increased placements would normally be considered bearish, but market-ready cattle numbers are tight, and marketings were down 10 percent. In the first four months of this year, through April, cattle slaughter was down 870,000 head, or 8.6 percent. Based on one less slaughter day in 2026, that nets out to a drop of 7.5 percent. April fed beef production was down 6.5 percent, and non-fed beef...
What You Need to Know Today: U.S. and Chinese officials are expected to discuss agriculture and non-tariff trade barriers ahead of Chinese President Xi Jinping’s visit to Washington later this month, potentially opening the door to additional U.S. agricultural purchases or improved marke...
The U.S. will observe Labor Day on Monday, 7 September. U.S. markets and the WPI office will be closed that day. The next edition of Ag Perspectives will be published Tuesday, 8 September...
Key Takeaways: Drought and changes to the multi-year trend in cow slaughter and retention have the potential to dramatically alter beef trim supplies and pricing, and WPI specifically models three different drought scenarios for fall 2026. Based on our models, WPI expects 90 percent lean...
