Cattle on Feed Report USDA will release its Cattle on Feed report tomorrow; the consensus pre-report analysts’ estimate is for the inventory of cattle on feed as of 1 May to be 99 percent of last year. The range of forecasts are from 97.9 to 99.9 percent of last year. Inventories have been equal to or larger than the previous year for seven consecutive months, this would be the first drop since October.
April marketings are expected to be up to 109.5 percent of April 2023. Marketings correspond to slaughter totals last month, but April 2024 had two more days than 2023. On first blush, that draws more scrutiny to placements, which are expected to be down to 93 percent of last year despite the two extra days. To be sure,...
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...
