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-year increase in inventory since November 2024.
Source: Dow Jones, WPI Based on the pre-report expectations, the cattle on feed for 120 days would be 296,000 head, up 5.6 percent from a year ago, and the cattle on feed for 150 days would be 355,000 head, up 11 percent from last year. Placements in April are projected to be 103 percent of last year, though April 2025 was on the low end at 1.613 million head. Between a low bar to measure placements agains...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
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...
