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The third week of December had the grains losing ground. The grains started the week on the defense, extended losses midweek, then spent the rest of the week trying to dig out of the hole they dug.
The USDA released its December Cattle on Feed report last Friday. As numbers appear to continue tightening, as cattle feedlot placements finally are dropping down below last year, producers may see a bright spot with the potential for bigger checks in 2024. USDA’s Gary Crawford shares more.
The grains continue to trade in a well-established trading range as the market looks for direction and confirmation on Brazil weather challenges.
-AFBF The U.S. Department of Agriculture’s latest Cattle on Feed report, released Dec. 18, shows the number of animals on feed as of Dec. 1 is even with last year. The report provides monthly estimates of the number of cattle being fed for slaughter. For the report, USDA surveys feedlots of 1,000 head or more, as this represents 85% of all fed cattle. Cattle feeders provide data on inventory, placements, marketings and other disappearance. This report showed a total inventory of 12.036 million head for the United States on Dec. 1, up from the same time in 2019 and from last month. This lack...