Traders are preparing for Friday afternoon’s monthly Cattle on Feed Report.
Following are pre-report guesses:
Report expectations | Avg. Trade Guess | Range |
% of year-ago levels | ||
On Feed | 107.5% | 103.8-109.2 |
Placements | 116.9 | 106.4-126.6 |
Marketings | 96.3 | 94.7-98.0 |
Juli says: Traders expect a big jump in On Feed and Placements from year-ago levels. Producers (once again) aggressively placed cattle due to drought in the Southern Plains. But as some point, we’re going to be running VERY tight on available feeder cattle -- unless USDA underestimated the calf crop?!
