USDA released its monthly cattle on feed report today; the inventory of cattle and calves on feed was 11.3 million, which is slightly above September 2021. This is the second highest total on feed for September on record.
Marketings were in line with pre-report expectations. The average daily marketings in August were 87,130 based on 23 days (one more than August 2021). That is up from 86,905 based on 21 days in July 2022. However, marketings as a percent of inventory on feed were well above at 17.8 percent.
Placements were slightly above last year, and above the benchmark average pre-report expectation, but as we noted yesterday, there was one outlier forecast in the calculated average that pulled down the Olympic a...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
