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 July at 100 percent of last year. Placements are expected to be 103 percent of last year and marketings are forecast at 101 percent.
As for the semi-annual inventory report, the July release is typically not full of surprises as it follows the January report. The cattle herd as of 1 January was 99 percent of last year, and last year’s July report was 100 percent of the 2018 report. Pre-report estimates from the industry peg the total inventory of cattle as of 1 July at 100 percent of last year. The range of analysts’ forecasts were very tight – a low of 99.6 per...
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...
