World Perspectives
livestock

March Cattle on Feed

USDA’s monthly Cattle on Feed (COF) report, released 23 March, showed the number of cattle in 1,000+ capacity feedlots at 11.7 million head as of 1 March. The total was 109 percent of last year or up 1 million head versus 1 March 2017. While also the third consecutive month that the inventory grew 8 percent or more from the prior year, this was the first time since October 2006 that it increased a full 9 percent. February’s large placement numbers correspond with a 2.1 percent drop in steer slaughter and a 7.8 percent increase in heifer slaughter year over year. Together with increased cow slaughter, this is a sign of ongoing herd liquidation. The market had already factored in pre-report estimates of large inventories and...

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WASDE Livestock

USDA’s World Agriculture Supply and Demand Estimates (WASDE) report was released yesterday, the first of the year. Beef production is still down compared to 2024, but projections were raised for 2026. Beef production was raised as heavier slaughter weights more than offset the reduction i...

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Mar 26 Corn closed at $4.1975/bushel, down $0.0175 from yesterday's close.  Mar 26 Wheat closed at $5.105/bushel, down $0.0075 from yesterday's close.  Mar 26 Soybeans closed at $10.3875/bushel, down $0.1025 from yesterday's close.  Mar 26 Soymeal closed at $291.6/short ton, down...

livestock

WASDE Livestock

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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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