USDA released its monthly Cattle on Feed (COF) report Friday afternoon. For the first time in 33 months, the total inventory of cattle in feedlots of 1,000 head or larger capacity was smaller than the same month year-over-year. Inventory 11 million head, 99 percent of September 2018 (and compared to 11.1 million head on 1 August 2019). Furthermore, August placements were way down from last year and below the industry’s pre-report expectation.
August marketings came in as expected, down a bit from the 2 million head reported in July. August, however, had one less weekday than last August and July 2019. Average daily marketings were 88,636 based on 22 slaughter days (excluding Saturdays, but...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
