According to the United States Department of Agriculture (USDA) January Cattle on Feed Report, which indicates that the number of cattle on feed had increased from last year by three percent. Traders were expecting a slightly larger number. University of Missouri-Columbia Agricultural Economist Ron Plain says that the big difference was in marketings.
"USDA said marketings were down only 1.9 percent during December," Plain said. "The trade was expecting a three percent drop in marketing, so those extra marketing pulled down the total number of cattle on feed relative to what traders were expecting." Read more ...
This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers. To get your copy of 'PPLAPP' click here.
"USDA said marketings were down only 1.9 percent during December," Plain said. "The trade was expecting a three percent drop in marketing, so those extra marketing pulled down the total number of cattle on feed relative to what traders were expecting." Read more ...
This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers. To get your copy of 'PPLAPP' click here.
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