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Market recovery from coronavirus impact could be lengthy
Derrell Peel: Decision-Making In Turbulent Markets

The coronavirus is another “black swan” that is different in some fundamental ways from other such events in cattle markets, such as the packing plant fire last year or even the first BSE case in late 2003.

January placements were 99.4% of year ago.
Derrell Peel: Regional Cattle On Feed Breakdown

Cattle on feed data shows the largest number of cattle in feedlots during February since 2008, while placements were 99.4% of year ago, a little smaller than expected.

Carcass weights trend higher
Derrell Peel: Carcass Weights Resume Uptrend

USDA’s latest carcass weights data show steers 12 pounds heavier than last year and heifers 13 pounds heavier than last year, resuming a higher trend after moderating the past three years.

Exports were down in 2019
Derrell Peel: Analyzing 2019 U.S. Beef Exports And Imports

U.S. beef exports were down year-over-year in 2019 but could see a bump this year. Imports in 2019 were up slightly compared to the previous year.

Cattle herd expansion has ended
Cyclical Herd Expansion Over; Record Beef Production In 2020

The Cattle report issued by USDA confirms that cyclical herd expansion in the U.S. is over.  The numbers indicate that while cattle inventories have stopped growing no major liquidation is underway. 

Feedlot inventories at a peak
Derrell Peel: Large Feedlot Inventories To Start 2020

The latest monthly cattle on feed report showed the January 1 inventory in feedlots (over 1,000 head) at 11.958 million head, 102.3 percent of one year ago.  This is the largest January on-feed total since 2008.

Derrell Peel: Hay Stocks Up From Last Year But Still Below Average

Weather challenges in 2019 led to many questions about the quantity and quality of hay production and supply heading into 2020.

Wildfires
Derrell Peel: Australian Fires Impact On Cattle And Beef

Widespread wildfires mean Australian cattle and beef production will be reduced for the foreseeable future and rebuilding, whenever it can begin, will take several years.