Yesterday, NASS and Statistics Canada released the 1 July cattle inventory in the two countries. Combined, the inventory was 106.1 million head, which was down to 99 percent of 2023 (the USDA suspended the July inventory report in 2024 due to budget constraints) and down to 92.4 percent of 2020. The total number of cattle and calves in the U.S. was 94.2 million head, 99 percent of 2023 and a scant 92 percent of 2020. The Canadian cattle inventory was 11.905 head, 101 percent of last year and just 94.7 percent of 2020. This indicates a long-term tightening of the cattle supply, which is adding pressure to beef prices.
In the U.S., all cows and heifers that have calved, at 38.1 million head, were down to 99 percent of 2023 and in Canad...
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...