USDA’s monthly cattle on feed report for 1 July will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 102.2 percent of last year. Those estimates imply an on-feed inventory of 11.327 million head. If accurate, that would be the largest inventory on feed since 1 July 2022.
One basic trend is toward heavier weight cattle as the days on feed continue to expand. The monthly inventory of cattle on feed continues to grow in a tight cattle market. Placements are contracting, but the inventory has grown, and marketings have contracted too. Year-to-date through June, the average steer dressed weight has been 979 pounds, an increase of 33 pounds, or 3.5 percent, from the same period...
What You Need to Know Today: U.S. and Chinese officials are expected to discuss agriculture and non-tariff trade barriers ahead of Chinese President Xi Jinping’s visit to Washington later this month, potentially opening the door to additional U.S. agricultural purchases or improved marke...
The U.S. will observe Labor Day on Monday, 7 September. U.S. markets and the WPI office will be closed that day. The next edition of Ag Perspectives will be published Tuesday, 8 September...
Key Takeaways: Drought and changes to the multi-year trend in cow slaughter and retention have the potential to dramatically alter beef trim supplies and pricing, and WPI specifically models three different drought scenarios for fall 2026. Based on our models, WPI expects 90 percent lean...
