The markets are still working to digest all the trade action we have seen over the last month. Analysts say grain reports are still lagging behind that data, but economists with USDA say their livestock reports are starting to take that information into account.
“We assume ‘policy in place.’ So, tariffs that China has placed on us in retaliation, and the tariffs we have placed on them, are assumed to continue throughout the remainder of this marketing year and into next marketing year,” said Seth Meyer.
Corn is another area Meyer is watching. Last week’s WASDE report showed little changes, largely because exports to China have dropped, and the marketing year is nearly over.
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The new option could provide stronger protection when forage losses coincide with higher replacement feed costs.
With the Aug. 31 deadline approaching, Farm CPA Paul Neiffer encouraged farmers not to wait until the final days to address any questions or discrepancies with their records.
U.S. cattle on feed totaled 11.1 million head on August 1, up 2 percent from 2025, while July placements fell 11 percent to a record low.
The 90-day extension gives fertilizer suppliers additional transportation flexibility through the fall application season.
