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...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “...
What You Need to Know Today: The surprises from the USDA’s Acreage report were a sharp reduction in winter wheat area from the March Prospective Plantings estimates and a larger-than-expected increase in corn area. The Grain Stocks report offered relatively few surprises, but quarterly d...
On Monday, the Trump Administration suspended the countervailing duties (CVDs) on phosphate fertilizer imports from Morocco via Executive Order. The CVDs were imposed in 2021 by the Biden Administration and were subject to a routine five-year sunset review. According to the Agricultural and Foo...
