Through mid-April, beef cow slaughter is up 16.9 percent year over year; a surprisingly strong rate of cow slaughter for this time of year. This likely reflects continuing drought impacts
Prices for DAP, urea, anhydrous ammonia and UAN have all reached all time high prices. The cost per pound of actual N is over $1.13/pound for urea and 32% UAN.
The latest Cattle on Feed report showed a record April feedlot inventory of 12.1 million head, up 1.7 percent year over year. The quarterly inventory of steers on feed was