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: Iran warned that it will retaliate against the U.S. if American strikes target Iranian infrastructure, as President Trump has threatened to do next week if negotiations between the two nations do not resume. President Trump is scheduled to deliver a primetime addre...
Turkeys for Thanksgiving are typically placed this month. Turkey production has suffered from HPAI and other diseases for the past two years, and placements are still down overall. However, at more than 34 pounds per bird, overall production is being supported by heavier weights and increased p...
Key Takeaways: Continued domestic demand for soyoil in the U.S. will drive prices higher and create a firmer outlook for global soybean values and crush margins. U.S. soyoil prices are set to increase 13-16 percent over the next four months as the domestic demand expansion takes hold. Th...
