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 September to be 99.4 percent of last year. That is not a big drop, but it is potentially a big signal of where things could be headed – this is the first year-over-year drop in monthly feedlot inventory in 32 months.
August placements are expected to be 94.5 percent of last year, and the average trade guess for marketings in the month comes in at 106.8 percent of last August. Note that August had one less weekday than July 2018, but one more Saturday (not Sunday) which is worth noting since there has been more Saturday kills since the fire at the Gar...
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...
