USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 April at 95 percent of April 2022, which was the highest total on record for the month of April.
There was at least one prediction of high placements in March, up to 99 percent of last year’s 1.99 million head, but the average came out to 95 percent. Much tighter ranges for inventory and marketings as typical. Marketings for the month are expected to be 99 percent of the year ago total of 2 million head.
The drops in total expected total inventory and placements, and the spread with markets helped boost the June and August live cattle contracts, while the April contract followed cash prices do...
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...
