What You Need to Know Today:
Cattle futures crashed on social media rumors that ICE raided one or possibly three fed cattle packing plants in Kansas Monday night or Tuesday morning. Operations at one plant have been disrupted and production curtailed. Outcomes for shipping via the Strait of Hormuz are as unclear as ever after Reuters reported overnight that Iran could reopen the lane within a week if the U.S. reduces its blockade and military pressure, but that Iran’s president will not meet with President Trump during this week’s UN summit. President Trump is rumored to be meeting with the Arab Gulf states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE as part of the UN General Assembly. Much of the U.S. remains un...
What You Need to Know Today: New World screwworm is back in the headlines after new cases were found in a hunter-harvested elk in Texas and a beef cow in New Mexico. The detection in wildlife could further complicate containment efforts, as implementing effective biosecurity measures is consid...
Cattle on Feed Expectations USDA’s monthly Cattle on Feed report that will show cattle inventory statistics as of 1 October will be released tomorrow, 23 October. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 100.3 percent of last year, which imp...
Key Takeaways: Dry bulk markets remain mixed with Capesize rates turning around from their recent weakness and posting solid gains on improved Chinese demand. Panamax vessels, on the other hand, saw rates decline amid greater tonnage availability in the South Atlantic and falling U.S. Gu...
