World Perspectives
livestock

Cattle on Feed Report: Placements and Marketings Dropped Sharply

USDA released the monthly Cattle on Feed report today. Total inventory, placements and marketings all came in lower than the pre-report estimates, though total inventory was at the same volume or higher than last year for the seventh consecutive month. Placements came in well below the average pre-report consensus estimate. As WPI previewed yesterday, it’s cheaper to feed out cattle to heavier weights than it is to buy expensive feeder cattle. Plus, February saw a record number of placements for the month and feeder cattle supplies remain tight. As WPI noted on 22 March, for the March COF analysis: Looking ahead, next month’s report will show a drop in month-over-month marketings as there have been about four weeks of slaug...

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feed-grains soy-oilseeds wheat

Market Commentary: Down on the Day but Some Ups for the Week

Most of the major agricultural commodity contracts opened today’s trading session in the red and stayed that way to the close. Only feeder cattle and lean hogs managed small gains on the day. New contract lows were hit for December soyoil, September SRW and September HRW. Volume was overa...

wheat feed-grains soy-oilseeds

Summary of Futures

Dec 24 Corn closed at $4.1/bushel, down $0.1075 from yesterday's close.  Sep 24 Wheat closed at $5.235/bushel, down $0.1425 from yesterday's close.  Nov 24 Soybeans closed at $10.485/bushel, down $0.31 from yesterday's close.  Dec 24 Soymeal closed at $324.7/short ton, down $4.5...

Friday Shorts

Non-Meat: In a first, a Europe-based company has sought EU approval to market lab-grown meat, in this case fake foie gras. Some member states have already banned such products. While lab-grown meat remains expensive, and plant-based meat substitutes have faced declining popularity, the increase...

feed-grains soy-oilseeds wheat

Market Commentary: Down on the Day but Some Ups for the Week

Most of the major agricultural commodity contracts opened today’s trading session in the red and stayed that way to the close. Only feeder cattle and lean hogs managed small gains on the day. New contract lows were hit for December soyoil, September SRW and September HRW. Volume was overa...

wheat feed-grains soy-oilseeds

Summary of Futures

Dec 24 Corn closed at $4.1/bushel, down $0.1075 from yesterday's close.  Sep 24 Wheat closed at $5.235/bushel, down $0.1425 from yesterday's close.  Nov 24 Soybeans closed at $10.485/bushel, down $0.31 from yesterday's close.  Dec 24 Soymeal closed at $324.7/short ton, down $4.5...

Friday Shorts

Non-Meat: In a first, a Europe-based company has sought EU approval to market lab-grown meat, in this case fake foie gras. Some member states have already banned such products. While lab-grown meat remains expensive, and plant-based meat substitutes have faced declining popularity, the increase...

livestock

June Cold Storage Report

June 2024 total red meat and poultry stocks were up slightly from May but 5.4 percent below June 2023 levels due to sharp declines in poultry and pork stocks. Total poultry stocks were down 7.8 percent year-over-year (YoY) due to reductions in broiler slaughter for the month. Total pork stocks...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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