USDA’s monthly Cattle on Feed report was released today because the markets will be closed tomorrow for Good Friday. The total inventory of cattle on feed was 11.6 million head on 1 April, down 2 percent from April 2024. Placements in feedlots during March totaled 1.84 million head, 5 percent above 2024. Net placements were 1.79 million head. Marketings of fed cattle during March totaled 1.73 million head, 1 percent above 2024.
This came out close to the pre-report guesstimates. Analysts’ pre-report consensus estimates were for the total inventory on feed to be 98 percent of last year with the range of estimates between 97.5 percent and 99 percent of 1 April 2024. Marketings are between 99 percent and 101 percent, w...
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...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
