Cattle on Feed Preview USDA will release its monthly cattle on feed report tomorrow. Pre-report estimates from the industry peg the total number of cattle on feed as of 1 December at 101.9 percent of last year. If accurate, the number of cattle on feed are back above year ago levels for the 34th time in the last 36 months, and it would be the largest December inventory since 2011.
The average trade guess for marketings in November comes in at 97.2 percent of last year. November placements are anticipated to be 101 percent of November 2018. (November 2019 had one less weekday than November 2018). Cold Storage Preview Monday, USDA will release its end of November accounting for red meat and poultry in cold storage. Inventori...
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...