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 February.
Average daily marketings were 88,650 in January based on 20 work days (one more than in 2021) when marketings were 96,200. December 2021 average daily marketings were 84,409 based on 22 workdays. Marketings as a percent of cattle on feed inventory in January stayed below current at 14.5 percent – that compares to 15.1 percent last January, 15.4 percent in December and 15.6 percent in November. In a nutshell, there are more cattle on feed despite a shrinking overall herd. Based on t...
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...
