USDA released the monthly Cattle on Feed report today. All categories came in near expectations, making the report neutral.
August placements at 1.98 million head were above the average for the month during this cattle cycle of 1.93 million head, but still below last year. As WPI noted yesterday in its report preview, feeder cattle sales in August were down from year-ago volumes, but lower feed costs, more dry conditions, and higher feeder cattle imports from Mexico likely put a floor on the volume.
August marketings as a percentage of inventory was 16.2 percent, up from 16.7 in July. Last year saw marketings as a percent of inventory at 16.9 percent. On a daily basis, marketings were 82,636 in August compared to 81,957 in Aug...
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...
