USDA released its monthly Cattle on Feed report today and the semi-annual Cattle Inventory report. The number of cattle on feed – at feedlots of 1,000 head or more capacity – as of 1 July was 11.3 million, just slightly above 1 July 2021. Steers made up 61 percent of the inventory at 6.9 million head, 99 percent of last year, and heifers made up 39 percent at 4.45 million head, which was 103 percent of year ago levels.
Feedlots of 1,000 head or more capacity had 84.6 percent of the on-feed inventory; total inventory on feedlots of all sizes was 13.4 million head; the same as last year. The average daily marketings on large feedlots in June were 93,682 based on 22 days in the month of June. Marketings as a percent...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
