USDA released its monthly Cattle on Feed (COF) report this past Friday. The on-feed inventory as of 1 January was 11.58 million head or 108 percent of last year, which is consistent with pre-report estimates. This is the third month in a row that the total has exceeded 11 million head and the 21st month of the last 24 that it has been larger than prior year levels.
Placements in December totaled 1.8 million head or 101 percent of December 2016, the largest monthly volume since September 2011. Marketings were 1.75 million head or 99 percent of year-ago levels.
Placements continue to be driven by poor pasture and range conditions due to drought, although they are steadily trending down since the record level in October. Those by state c...
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...
