Following are pre-report guesses for Friday afternoon’s Cattle on Feed Report:
Report expectations | Avg. Trade Guess | Range |
% of year-ago levels | ||
On Feed | 93.9 | 92.7-95.5 |
Placements | 99.1 | 92.1-103.2 |
Marketings | 93.5 | 92.4-95.1 |
The Placements category will serve as the “read” on the report as pre-report guesses range from 92.1% to 103.2% of year-ago levels. Meanwhile, On Feed and Marketings are expected to come in below year-ago levels as supplies have tightened. But for now, the focus is not on the tight supply situation, instead, traders’ focus is on demand.
