World Perspectives
livestock

December Cattle on Feed Report in Line with Expectations

USDA released the monthly Cattle on Feed report today. The total cattle on feed inventory was 12 million head, the same as last year, as expected. Placements also were as expected, and marketings were slightly above November 2023.  12202024dj.png 22.92 KBNovember marketings as a percent of inventory were 14.4 percent, compared to 14.6 percent in November 2023. On a daily basis, marketings were 90,789 last month versus 87,550 in November 2023. November had 19 slaughter days in 2024 and 20 slaughter days in 2023. 12202024dj2.png 25.79 KBFor the year-to-date, January through November, cumulative placements are down 1.3 percent and marketings are down 0.3 percent.  By weight, 50.9 percent of November placements were lighter than...

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Market Commentary: CBOT Rallies on Falling USD, Tariff Pause, and Technical Buying

CBOT futures and ag markets look very different today than they did just one week ago. Last Friday, ag futures were deep in the red with traders exiting positions and engaging in risk-off trade as the outlook for U.S. trade and the global economy seemed far from certain. This week, futures ende...

feed-grains soy-oilseeds wheat

Summary of Futures

May 25 Corn closed at $4.9025/bushel, up $0.0725 from yesterday's close.  May 25 Wheat closed at $5.5575/bushel, up $0.1775 from yesterday's close.  May 25 Soybeans closed at $10.4275/bushel, up $0.1375 from yesterday's close.  May 25 Soymeal closed at $299.6/short ton, up $1.7 f...

Budget Reconciliation: A Step Closer to “One Big Beautiful Bill”

Yesterday, the House of Representatives passed a budget bill by a vote of 216 to 214. The two Republican “no” votes were from Thomas Massie of Kentucky and Victoria Spartz of Indiana, neither of which was a surprise. Massie has been a skeptic of the bill all along and Spartz famousl...

feed-grains soy-oilseeds wheat

Market Commentary: CBOT Rallies on Falling USD, Tariff Pause, and Technical Buying

CBOT futures and ag markets look very different today than they did just one week ago. Last Friday, ag futures were deep in the red with traders exiting positions and engaging in risk-off trade as the outlook for U.S. trade and the global economy seemed far from certain. This week, futures ende...

feed-grains soy-oilseeds wheat

Summary of Futures

May 25 Corn closed at $4.9025/bushel, up $0.0725 from yesterday's close.  May 25 Wheat closed at $5.5575/bushel, up $0.1775 from yesterday's close.  May 25 Soybeans closed at $10.4275/bushel, up $0.1375 from yesterday's close.  May 25 Soymeal closed at $299.6/short ton, up $1.7 f...

Budget Reconciliation: A Step Closer to “One Big Beautiful Bill”

Yesterday, the House of Representatives passed a budget bill by a vote of 216 to 214. The two Republican “no” votes were from Thomas Massie of Kentucky and Victoria Spartz of Indiana, neither of which was a surprise. Massie has been a skeptic of the bill all along and Spartz famousl...

Tariff War Patience; Self-Sufficiency; Reciprocal Treatment

Tariff War Patience The latest Purdue University-CME Group Ag Economy Barometer survey of farmers fell 12 points or nearly 8 percent on concerns about the trade war’s impact on export markets. Surveys indicate that the American public expects tariffs to raise their cost of living. They al...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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