USDA s APHIS released its final ruling on cattle traceability, putting into place the requirement for certain classes of the cattle herd to have an electronic identification tag for interstate movement.
I remain guardedly bullish in my outlook for the cattle complex through the remainder of 2024. To be truthful, I think this year may be one of the hardest to predict as the market s bearish and bullish influences are both extremely boisterous.
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.8 million head on April 1, 2024. The inventory was 1% above April 1, 2023, USDA NASS reported on Friday.
Beef trade was down after news of a fire at the National Beef processing facility in Liberal, Kansas. Company officials said the fire was in the loading dock and was contained within hours. No injuries were reported. Officials are continuing to assess damages.
Wednesday afternoon s Cattle Inventory report and the cold storms endured through January will both affect the market moving forward and should not be overlooked.