USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 February at 96 percent of February 2022. Last February was the record for February feed yard inventory. This would be the fourth consecutive month where on-feed inventories are lower than year ago levels.
Placements were forecast to be 97 percent of last year and marketings at 104 percent of last year. The ranges of estimates were relatively tight with the most variance in the placement category as typical.
Yesterday, the FDA released a draft guidance on the labeling of plant-based milk alternatives. The guidance did not address meat alternative labeling, however. In 2018, the FDA reques...
What You Need to Know Today: U.S. Treasury Secretary Bessent said the U.S. and Iran could “today or tomorrow” reach a deal to reopen the Strait of Hormuz. Despite the Secretary’s claims, an attack on a vessel off the Omani coast suggests plenty of risk remains in forming a lo...
Beef packer margins slipped modestly for the first time in four weeks, declining $15/head to -$78 as fed cattle prices firmed while boxed beef values continued to weaken. The Choice cutout eased another $2.63/cwt to $364.69, while dressed cattle prices fell only $2.76/cwt to $362.25/cwt, limiti...
Key Takeaways: Offal represents an important segment of global meat trade by adding value to underutilized portions of livestock carcasses and improving overall resource efficiency. Strong export demand for products such as pork variety meats and chicken feet allows processors to maximize carc...
