USDA released its Cattle on Feed report today. The inventory of cattle in feedlots with a capacity of 1,000 head or more was 12 million head, that is 101 percent of 1 November 2019 and below pre-report expectations. This is a record large 1 November inventory dating back to 1996 when records began. Placements were below even the low pre-report average. October 2019 was the second largest October placement level since 2011, so it its not surprising that this year would be lower, but placements dropped to the lowest level since 2016. Morever, given the strange year it has been, placements were also down from September, which is the first time that has happened in the last decade.
Per today’s report, net placements were 2...
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...
