As we reported Monday, the USDA Cattle on Feed report showed its first drop in on-feed inventory for the year. Yesterday’s quarterly livestock data from USDA also showed a drop in feeder cattle outside feedlots. The total of calves weighing less than 500 pounds, steers weighing 500 pounds or more, and non-replacement heifers weighing 500 pounds or more make up that inventory of feeders outside of the feedlots. Total feeders outside feedyards, at 28.637 million, are at about 97 percent of October 2021. That’s made for a bullish market. Last week, negotiated fed cattle prices were $150/cwt, the average for the month (through last week) has been $147/cwt. Yesterday, prices were $151/cwt.
Last week’s slaughter was...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
