USDA will release its monthly Cattle on Feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 August at 101 percent of last year. Placements in July are expected to be 106 percent of last year and marketings are forecast at 99 percent. Post-COVID, feedlot inventories have gone back to normal levels and are following seasonal patterns, though the inventory for August is projected to be larger than August 2019. Typically, August and September are two low months for cattle on feed – with September at the bottom - but with spring packing plant interruptions and ongoing lower operating efficiency September might not be the lowest month this year.
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What You Need to Know Today: China’s state-run COFCO, in statements on Tuesday, implied that U.S. corn exports were currently uneconomical but hinted that the Middle Kingdom would import 3.5 MMT of the feed grain this year, with 1 MMT likely sourced from the U.S. Another drone attack has...
Tanker-tracking data shows a smaller recovery in oil flowing through the Strait of Hormuz than previously thought. Energy Secretary Chris Wright, speaking by video to an international energy conference in Riyadh, Saudi Arabia, said that oil moving through the strait was back to 80 to 90 percent...
Key Takeaways: While soybean, palm, sunflower, and rapeseed oils dominate global vegetable oil markets, premium oils such as olive, avocado, coconut, and sesame command substantially higher prices due to their distinctive flavors, nutritional characteristics, and specialized culinary uses.. Ol...
