Key Takeaways:
Major meatpackers are seeing massive losses in their beef divisions, with cattle prices at record levels amid low inventories. Drought continues to persist in cattle-producing areas in the U.S. Cattle herd rebuilding is not at the levels needed to meaningfully raise total cattle inventories. There are not many realistic policy-initiated solutions to spark a cattle herd rebuild. It is a profitable market for poultry, which helps offset beef losses for companies that produce both. Poultry margins have been good with low feed costs. Restaurants have been promoting chicken menu items amid lower poultry prices. There is major investment in automation at poultry plants to maximize efficiency for an already profitable sector. Locki...
What You Need to Know Today: The Trump administration announced new tariffs of 10 percent to 12.5 percent on imports from 60 major U.S. trading partners as part of a Section 301 action aimed at combating forced labor in global supply chains. Countries that have agreed to adopt and enforce bans...
USDA’s monthly cattle on feed report was released today, along with the semi-annual cattle inventory report. The total number of cattle on feed in feedlots with a capacity of 1,000 head or more amounted to 11.4 million head, or 102 percent of last year. All cattle and calves totaled 94.2...
