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 | 95.6 | 94.2-96.2 |
Placements | 104.1 | 96.2-108.8 |
Marketings | 93.2 | 90.2-95.0 |
Juli says: After a six-month string of Placements figures coming in below year-ago levels, traders largely expect a figure above year-ago due to poor pasture conditions. However, the report is still expected to reflect a tightening feedlot situation, as On Feed is seen more than four percentage points below year-ago levels.
