World Perspectives
livestock

Livestock Roundup: Cattle on Feed Preview

USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 August at 98.4 percent of August 2022. This would be the 10th consecutive month where on-feed inventories are lower than prior year levels, stretching back to late 2022. Placements during July for the 1 August inventory are forecast to be 94.5 percent of last year and the only category to have a range of more than one percentage point. July is typically a low point for cattle placements, but the pre-report estimate would be the lowest for the month in six years. Note placements have surprised to the upside of the pre-report analysts’ consensus estimates for the past four consecutive months. Given...

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feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.4575/bushel, down $0.0025 from yesterday's close.  Mar 26 Wheat closed at $5.1725/bushel, down $0.0075 from yesterday's close.  Mar 26 Soybeans closed at $10.625/bushel, up $0.0125 from yesterday's close.  Mar 26 Soymeal closed at $303.7/short ton, up $0...

feed-grains soy-oilseeds wheat

Market Commentary: Holding Breath for Monday’s WASDE

As expected, it was a lower volume trading day ahead of likely market moving USDA reports on Monday. The exceptions were HRS and lean hogs. There were also generally lower trading ranges. The soybean complex traded higher on strength in coproducts but the rest of the board was mostly in the red...

livestock

New World Screw Worm: A Threat to Dairy?

The dairy industry continues to evolve, though it is facing new challenges. Through September, milk production is up 97 pounds per head in 2025 over 2024 and has increased steadily for several years. Further, there is a migration in dairy cows, with the southern plains growing in cow numbers. T...

feed-grains soy-oilseeds wheat

Summary of Futures

Mar 26 Corn closed at $4.4575/bushel, down $0.0025 from yesterday's close.  Mar 26 Wheat closed at $5.1725/bushel, down $0.0075 from yesterday's close.  Mar 26 Soybeans closed at $10.625/bushel, up $0.0125 from yesterday's close.  Mar 26 Soymeal closed at $303.7/short ton, up $0...

feed-grains soy-oilseeds wheat

Market Commentary: Holding Breath for Monday’s WASDE

As expected, it was a lower volume trading day ahead of likely market moving USDA reports on Monday. The exceptions were HRS and lean hogs. There were also generally lower trading ranges. The soybean complex traded higher on strength in coproducts but the rest of the board was mostly in the red...

livestock

New World Screw Worm: A Threat to Dairy?

The dairy industry continues to evolve, though it is facing new challenges. Through September, milk production is up 97 pounds per head in 2025 over 2024 and has increased steadily for several years. Further, there is a migration in dairy cows, with the southern plains growing in cow numbers. T...

livestock

Where is the Hog Market Headed? Rosy Early Outlook for 2026.

Lean hog futures saw an unexpected rally to conclude 2025 with the market rebounding from an autumn selloff. The rebound was sufficiently strong to push deferred futures to new contract highs and nearby contracts just a few dollar shy of their contract highs. Despite this futures rally, physica...

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From WPI Consulting

Weighing in on strategic realignment

WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.

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