USDA will release its monthly Cattle on Feed report tomorrow – the first of the new year. Pre-report estimates from the industry put the total number of cattle on feed as of 1 January at 99.5 percent of last year. That consensus report is an Olympic average of the range of analysts’ estimates, and it was a tight range spanning 98.8 percent on the low end and 99.9 percent on the high end. WPI’s own pre-report estimate is at the top end with a 1 January inventory of 11.93 million head, or 99.8 percent of 1 January 2020.
December marketings are forecast at 100 percent of a year ago and placements are expected to be at 97 percent of last year’s total. WPI’s estimates are close to the consensus average – an...
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...
