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 | 103.3 | 102.7-104.2 |
Placements | 94.2 | 90.0-98.4 |
Marketings | 97.0 | 95.1-101.7 |
Juli says: After months of forced liquidation due to poor pasture conditions in the Southern Plains, traders look for Friday’s Cattle on Feed Report to reflect a tighter supply of available calves to place on feed. Typically, we’d say a report that shows On Feed estimates coming in higher than Marketings as a reflection of backed up feedlots. But this year that is simply not the case due to an increase in lighter weight calves being placed due to drought in the Southern Plains.
