USDA released the monthly Cattle on Feed report on Friday. The total inventory in feedlots of 1,000 head or more capacity was 11.8 million head, 99 percent of last year. The smaller inventory was driven by increased marketings and decreased placements. The placement data was bullish, coming in well below pre-report expectations Placements were 1.64 million head, and marketings at 1.74 million head were 101 percent of December 2023. For the year, January through December, cumulative placements were down 1.5 percent and marketings were down 0.2 percent from 2023
As a percentage of total inventory, December marketings were 14.7 percent, compared to 14.3 percent in December 2023. Daily marketings were 79,182 last month versus 82,09...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
