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 | 100.3 | 99.4-101.1 |
Placements | 88.4 | 82.9-98.6 |
Marketings | 98.6 | 96.4-99.2 |
Juli says:Traders expect the report to reflect a tightening supply picture, as Placements are seen dropping sharply compared to year- ago levels. If the average trade guess of 88.4% of year-ago is on target, Placements of 1,578 head in April would be down nearly 12% from March!
