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...
Energy: Fewer Routes, More Pressure Brent crude is back above $100, while WTI has closed higher for seven consecutive sessions as multiple supply routes come under pressure and the market runs out of workarounds. U.S. forces destroyed five Iranian crude-oil carriers Tuesday after Iran attempted...
Beef packer margins declined to $199/head last week, down $60 from the prior week as the Choice cutout retreated while fed cattle prices were steady. The cutout fell nearly $8/cwt to $374/cwt, while fed cattle held near $219/cwt, narrowing packer spreads after their sharp August recovery. Despi...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
