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 | 94.6 | 93.5-96.0 |
Placements | 87.3 | 83.3-92.0 |
Marketings | 102.6 | 100.8-103.5 |
Juli says: Sharply higher feed costs have resulted in a dramatic slowdown in Placements and the number of cattle On Feed. However, traders look for the report to reflect Marketings were strong last month, resulting in a current feedlot situation. This suggests On Feed numbers will continue to shrink in the coming months.
