USDA’s monthly cattle on feed report for March will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.3 percent of last year. Those estimates imply an on-feed inventory of 11.5 million head.
The pre-report estimates were split on placements. There were some estimates of placements coming in below last year. The consensus estimate for placements was 100.3 percent of last year, which would imply a total of 1,559,000 head. That estimate comes from a very wide range of guesses, from 4.7 percent lower than last year at 96.3 percent to 5 percent higher at 105 percent. Last February, there was a particularly low number of placements at 1.554 million head, which was down 3...
What You Need to Know Today: Crude oil prices dropped sharply with traffic flowing through the Strait of Hormuz. There were reports that Iran was behind an attack on a cargo ship near the coast of Oman, which would be a violation of the memorandum of understanding between the U.S. and Iran. Pr...
On Wednesday, the White House submitted a national security supplemental spending request for $87.6 billion. The majority of the request includes funding for the conflict in the Middle East, but there are agricultural provisions as well. The supplemental funding package includes more than $11 b...
Can we really expect a bushel of corn to carry an environmental passport throughout the entire food system? One that reliably documents its carbon footprint, biodiversity impacts, water use, soil carbon, and other environmental attributes all the way from the farm field to the consumer? This is...
