USDA released its Cattle on Feed report today; the inventory of cattle in feedlots with a capacity of 1,000 head or more was 11.3 head, that is 102 percent of 1 August 2019, and a record for the month of August.
The report was bearish compared to the pre-report expectations and shows the symptoms (as we previewed yesterday) of the backlog of the COVID-related plant slowdowns, and the expanding drought conditions. Marketings came in as expected, but inventory was about 61,000 head more than expectations and placements were 188,000 head more than last year and more than 85,000 head greater than expectations. The pre-report estimates on placements came in with a wide range - from 102 percent of last year on the low end to 109 percent...
What You Need to Know Today: Crude oil prices extended their rally today, supported by several developments, including escalating Houthi attacks on Saudi Arabian oil infrastructure and growing concerns about supply disruptions. The Trump administration is reportedly preparing to remove 50 perc...
Key Takeaways: The agricultural trade surplus has become a sizable deficit: the balance swung from a $40.1 billion surplus in 2011 to a $40.7 billion deficit in 2025. Imports kept growing while exports lost momentum: between 2020 and 2025, agricultural imports increased 45 percent, compa...
USDA released its October Cattle on Feed report Friday, showing 11.4 million cattle in feedlots with capacity for 1,000 head or more, slightly below last year. September placements were the lowest for the month since records began in 1996, marking the third consecutive month of placements sett...
Total Red Meat & Poultry September 2026 total red meat and poultry stocks totaled 1.97 billion pounds, down 1.4 percent from August despite typically increasing 0.8 percent during the month, and were 1.5 percent below September 2025 levels. The decline pushed total inventories to a new five...
