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 | 93.8 | 93.3-94.3 |
Placements | 100.3 | 97.5-104.0 |
Marketings | 104.7 | 103.2-106.6 |
Juli says: If traders’ average guess for On Feed is in the ballpark, it would suggest feedlot supplies are more than 650,000 head small than last year at this time. As a result, Marketings will soon begin to decline compared to year-ago levels to very tight levels.
