Tomorrow USDA will release the monthly Cattle on Feed report. Analysts’ pre-report estimates peg the total number of cattle on feed as of 1 October at 99 percent of a year ago. The range of estimates was between 98 and 100 percent. The implied inventory of cattle on feed would be 11.6 million head.
Placements in September are forecast at 101 percent of last year. The range of estimates was wide, from 98 percent to 104 percent and showed differing opinions – i.e., both an increase and a decrease over October 2020. If placements are up, that would be the second consecutive month of increased placements year over year, even after the July cattle inventory report (which we covered here) showed the total number of calv...
What You Need to Know Today: Wheat prices surged after Ukrainian strikes on Russian vessels and infrastructure disrupted grain shipments, halting traffic through the Sea of Azov, Kerch Strait, and Black Sea. The July WASDE report offered a modestly supportive outlook for corn, wheat, and soybe...
The trade deficit in goods and services came in at $77.6 billion in May, slightly smaller than the consensus estimate of $78.4 billion. After a few months of relative stability, the trade deficit widened in May. The increase in the deficit for the month was due to both a rise in imports, which...
Every June combines begin their annual sweep across the winter wheat fields of Texas, Oklahoma, and Kansas. At the same time, USDA releases its Acreage and Crop Progress reports, providing the first comprehensive look at the size and condition of the crop. Most years the reports simply confirm...
