USDA will release its Cattle on Feed report tomorrow; analysts’ pre-report estimates peg the total number of cattle on feed as of 1 September 100 percent of September 2021. The range of analysts’ guesses were tight; from 99 percent to 100.5 percent of a year ago. The implied inventory of cattle on feed from the average forecast would be 11.2 million head, the same as last month.
The potential mystery in tomorrow's report could be placements. The range of estimates is wide – from 93 percent to 101 percent of last year. Note the reported average expectation is an Olympic average of the analysts' estimates – throwing out the high and the low before calculating the average. The average estimate is 98.5 per...
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...
