USDA released its Cattle on Feed report today; the inventory of cattle in feedlots with a capacity of 1,000 head or more was 11.7 million head, that is 103 percent of 1 October 2019 and above pre-report expectations. This is a record large 1 October inventory dating back to 1996 when records began.
Placements were well above the pre-report average and at the very top of the range of expectations, reflecting in part dry conditions on the Plains as well as Mexico where imports of feeder cattle were up more than 35 percent in September. The on-feed inventory included 7.31 million steers, 106 percent of the year prior, and 4.41 million heifers, down slightly from 2019. The biggest increases in feedlot inventories were in Colorad...
What You Need to Know Today: USDA reports are delayed until Tuesday due to the federal holiday on Monday. Over the weekend, President Trump announced a ceasefire between Russia and Ukraine. Russia warmly welcomed and confirmed this ceasefire by conducting more strikes against Ukraine. Specific...
On Saturday, 10 October, at a campaign rally in Clarksville, Tennessee, President Trump said that the U.S. and Mexico would come to terms on a new trade deal, and he said Canada does not need to be part of the deal. Trump called the coming agreement with Mexico “great” but gave no d...
Key Takeaways: The United States has steadily lost global wheat export market share since the 1970s, falling from the world's leading exporter to a projected fifth place in 2026/27. The rapid expansion of Black Sea wheat exports, driven by improved productivity and export infrastructure, has r...
