USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more of capacity amounted to 11.6 million head, 99 percent of last year.
The steer and steer calf inventory was down slightly from a year ago at 7.256 million head, and heifers and heifer calves had a 1 percent year-over-year decline to 4.32 million head. Marketings were 1.63 million head, at 93 percent of last year, in line with the pre-report expectations, and the second lowest for March on record since 1996. They were down on fewer placements in previous months and less aggressive demand from packers. As a percentage of total inventory, March marketings at 14.1 percent were below current-year levels, compared...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
