USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed to be 101 percent of the prior year. This would be the sixth consecutive month that inventories were equal to or larger than the previous year. Prior to that, from September 2022 to September 2023 feedlot inventories were below year ago levels.
The analysts’ pre-report estimates have marketings at 104 percent of last year and placements at 106 percent of last year, the latter coming in a range of 103 to 109 percent of 2023. For both, note that this is a leap year with an extra day in February. Likewise for placements, feeder cattle imports are running ahead of last year.
However, as...
New Trade Agreements U.S. and Indian officials say that bilateral trade negotiations are progressing on a comprehensive deal to expand earlier completed chapters on market access, NTBs and purchases. Prime Minister Narendra Modi has become more free trade oriented since consolidating his power...
Key Takeaways: Major meatpackers are seeing massive losses in their beef divisions, with cattle prices at record levels amid low inventories. Drought continues to persist in cattle-producing areas in the U.S. Cattle herd rebuilding is not at the levels needed to meaningfully raise total cattle...
USDA’s monthly cattle on feed report for 1 May will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 101.4 percent of last year. Those estimates imply an on-feed inventory of 11.535 million head. This is the first year-over-yea...
