USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 December at 97 percent of December 2021. All the analysts’ forecasts were all below 100 percent, ranging from 96.5 to 97.6 percent of a year ago. This will end the year with the third consecutive month, and third month of 2022 where on-feed inventories are lower than year-ago levels – a big turnaround based on drought fueled herd liquidation. It would also be the first December reduction in inventory since 2016.
Placements in November are forecast to be 96 percent of last year. Marketings are expected to be 101 percent of last year, based on the pace of slaughter. Outside of th...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
