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 October at 98.9 percent of last year. This would be the second month in a row where inventory was below the same month in the previous year after 32 consecutive months of year-to-date increases.
The average trade guess for marketings in the month comes in at 101.1 percent of last September. As was the case last month, the range of pre-report trade estimates was pretty tight for inventory (between 97.7 and 99.8 percent) and marketing (between 98.2 and 101.5 percent), but predictions on placements were a wildcard again. The average was 101.5 percent of last year, but the...
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...
