USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year.
Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought conditions in much of the major cattle-feeding regions. Those increased placements would normally be considered bearish, but market-ready cattle numbers are tight, and marketings were down 10 percent. In the first four months of this year, through April, cattle slaughter was down 870,000 head, or 8.6 percent. Based on one less slaughter day in 2026, that nets out to a drop of 7.5 percent. April fed beef production was down 6.5 percent, and non-fed beef...
What You Need to Know Today: The Federal Reserve held interest rates steady at 3.75 to 4.0 percent Wednesday, with two officials dissenting in favor of a 25-basis-point increase. The Fed upgraded its assessment of economic growth from "solid" to "strong" but adopted a more patient approa...
Key Takeaways: Expected growth in U.S. soybean crushing capacity and output, driven by biofuel demand, will increase domestic soymeal supplies, with production growth significantly outpacing demand. WPI forecasts soymeal production increasing from 65.8 million short tons in 2026/27 to 70.5 mil...
Russian Grain Markets: 19–23 October 2026 The Russian grain market continued its recovery during the week, although prices remained volatile across regions. Wheat was notably bullish, while feed barley and corn were slower to appreciate, primarily because of weaker export demand amid logi...
