Two key cattle reports came out this afternoon after the market close, but there won’t be much excitement generated from either. The monthly Cattle on Feed (COF) report was spot-on with the industry’s pre-report expectations, and the Cattle Inventory report shows the herd unchanged in size from last year, which was also the market’s expectation. The total inventory of cattle on feed in feedlots with 1,000 plus capacity was 11.5 million head, the 31st consecutive month of year-over-year increased inventory and the largest for 1 July since the series began in 1996.
The pace of May marketing dropped slightly from June, but it remained current at 17 percent of on-feed inventory versus 17.7 percent in May and well above the...
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...
