World Perspectives
livestock

Livestock Roundup: Cattle on Feed Preview

USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 98.1 percent of last year with the range of estimates between 97.4 and 98.6 percent of 1 August 2024. Those estimates imply an on-feed inventory of 10.8 million head, with marketings of 1.746 million head and placements of 1.552 million head. Marketings are forecast at 94.1 percent of last year in a range of 93.9 to 94.4 percent. Marketings exceeded placements by 178,000 head in June and are expected to outpace them by about 217,000 head in July. This yields the lower inventory figure, currently estimated at 10.884 million head. If the analysts are correct, this would be the smallest...

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feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soy Firm on Bull Spreading (and Exports?); Cattle Hit New Highs

The CBOT was mostly firmer on Wednesday with rumors circulating that export business is getting done – perhaps aggressively – without the USDA to publish the daily “flash” export sales report. Bull spreading in corn and soybeans likely belies this activity, as does the r...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.22/bushel, up $0.0225 from yesterday's close.  Dec 25 Wheat closed at $5.0725/bushel, up $0.005 from yesterday's close.  Nov 25 Soybeans closed at $10.295/bushel, up $0.075 from yesterday's close.  Dec 25 Soymeal closed at $278/short ton, up $1.1 from yes...

Animal Welfare Metrics; Transatlantic NTB’s; More Elegant Trade Rules

Animal Welfare Metrics The U.S. Justice Department is suing California over its Prop 12 animal welfare standards adversely impacting hog and poultry producers in other states. For some, the suit is a rejection of federalism (states rights) even as the Trump Administration seeks to defang Washin...

feed-grains soy-oilseeds wheat

Market Commentary: Corn, Soy Firm on Bull Spreading (and Exports?); Cattle Hit New Highs

The CBOT was mostly firmer on Wednesday with rumors circulating that export business is getting done – perhaps aggressively – without the USDA to publish the daily “flash” export sales report. Bull spreading in corn and soybeans likely belies this activity, as does the r...

feed-grains soy-oilseeds wheat

Summary of Futures

Dec 25 Corn closed at $4.22/bushel, up $0.0225 from yesterday's close.  Dec 25 Wheat closed at $5.0725/bushel, up $0.005 from yesterday's close.  Nov 25 Soybeans closed at $10.295/bushel, up $0.075 from yesterday's close.  Dec 25 Soymeal closed at $278/short ton, up $1.1 from yes...

Animal Welfare Metrics; Transatlantic NTB’s; More Elegant Trade Rules

Animal Welfare Metrics The U.S. Justice Department is suing California over its Prop 12 animal welfare standards adversely impacting hog and poultry producers in other states. For some, the suit is a rejection of federalism (states rights) even as the Trump Administration seeks to defang Washin...

feed-grains soy-oilseeds wheat

U.S. 2025/26 Crop Balance Sheets Growing Heavy

WPI’s latest forecasts for the U.S. corn, soybean, wheat, and sorghum markets in 2025/26 are increasingly leaning bearish due to expected larger supplies and, except for corn, weaker demand. China’s continued absence from the soybean and sorghum markets is a major headwind for the a...

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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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