A Russian hacking group has reportedly gained unauthorized access to the emails of Microsoft executives, the company has confirmed. This breach has raised concerns about the security of sensitive information and the potential impact on the tech giant’s operations.
The Agriculture Department recently released its monthly Cattle on Feed Report, revealing that U.S. cattle inventories on feed for the month ended Jan. 1 have increased by 2% compared to the previous year. However, the numbers fell slightly below analyst expectations, with total supplies of cattle on feedlots reaching 11.93 million head.
Analysts surveyed by The Wall Street Journal had anticipated a 2.2% rise in inventories compared to the previous year, indicating a slight deviation from the actual figures reported by the USDA.
Furthermore, the report indicated that placements of cattle on feed exceeded analysts’ forecasts, with the USDA reporting 1.7 million head through Jan. 1, marking a 4% decrease from the previous year. This decline was less than expected by analysts, who had predicted a 4.6% drop in placements.
Additionally, the USDA reported that fed cattle marketed for the month ended Jan. 1 totaled 1.725 million head, representing a 1% decrease from the previous year. This figure was slightly higher than the 0.8% drop in marketings forecasted by analysts.
Following the release of this data, the most-active cattle contract trading on the CME closed Friday’s trading session down 0.3% to $1.77050 a pound, while lean hog futures finished down 0.5% at 70.775 cents a pound.
These developments in the cattle industry highlight the potential implications for the agricultural sector and could impact market dynamics in the coming months.
