USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 August at 100.8 percent of August 2021. The range of analysts’ guesses were from 100 to 101.1 percent of a year ago.
Placements during July are expected to be 98.8 percent of last year. The range was from 95 to 101.3 percent straddling both sides of last years’ placement volume. Marketings in July are forecast to be 96.9 percent of last year. The range was 96 to 102.1 percent. Part of the reduction was due to one less slaughter day in July 2022 compared to July 2021. On the year to date, if the pre-report estimate on marketings is correct, this would be a net drop as cumulative...
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...
