USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 September at 97.6 percent of September 2022.
Placements during August for the 1 September inventory are forecast to be 93.6 percent of last year. The spread in the chart below shows that most of the predictions were grouped at the low end of the range, but there was at least one outlier predicting that placements were at nearly 98 percent of last year. Presumably, this would have been based on continuing drought conditions in certain regions, increasing imported feeder cattle from Mexico (but those were offset by a drop from Canada in August).
Marketings in August are expected to come in at 94...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
