USDA will release its Cattle on Feed report tomorrow and the consensus pre-report analysts’ estimate is for the inventory of cattle on feed to be 100 percent of the prior year. If correct, this would be the fifth consecutive month that inventories were equal to or larger than the previous year. From September 2022 through October 2023, feedlot inventories were consistently below year ago levels.
The analysts’ pre-report estimates have marketings at 100 percent of last year and placements down to 88 percent of last year.
If the consensus average estimate for placements is correct, it would be the lowest January placement level since 2007. If placements come in near the low end of the range, they would be only sl...
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...
