USDA released its monthly Cattle on Feed report today. The inventory of cattle and calves on feed was 12.2 million, right in line with expectations, and as WPI mentioned yesterday, a record for the month of March. This is the second consecutive month with a record on-feed inventory. February 2022 was a monthly record and January 2022 saw the second highest inventory of cattle on feed, after a monthly record for placements in December 2021.
It was a strong fall run for feeding. Inventories of cattle on feed were also the second highest on record in September and October of last year and November placements were 104 percent of the prior year. But cattle inventory is down. As we reported in January:
Beef cows for breeding down 2 percent...
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...
