Cattle on Feed Report USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed as of 1 May to be 99 percent of last year. The range of forecasts are from 97.9 to 99.9 percent of last year. Inventories have been equal to or larger than the previous year for seven consecutive months, this would be the first drop since October.
April marketings are expected to be up to 109.5 percent of April 2023. Marketings correspond to slaughter totals last month, but April 2024 had two more days than 2023. On first blush, that draws more scrutiny to placements, which are expected to be down to 93 percent of last year despite the two extra days. To be sure,...
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...
