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...
Yesterday’s momentum is facing a tougher test today. Stocks and most grain markets have pulled back, while higher Treasury yields and a firmer dollar are making buyers work harder to defend the gains. Crude oil has turned lower, easing some immediate energy pressure, but the Fed minutes l...
Key Takeaways: Corn prices will see support in 2026/27 and likely average $5.11/bushel for farm-gate values across the marketing year. Support for corn values comes from an 8 percent year-over-year reduction in supplies that is only partially offset by a 2 percent reduction in total use. Soybe...
Key Takeaways: Global vegetable oil production continues to expand, but the major oils are being driven by very different supply, demand, and trade dynamics. Palm oil faces heavy near-term supply pressure from rising Malaysian inventories, while Indonesia’s B50 mandate and El Niño...
