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 | 97.8 | 96.8-98.7 |
Placements | 85.0 | 81.0-89.7 |
Marketings | 89.8 | 88.8-92.8 |
Juli says: Live cattle futures are finding support ahead of the report by pre-report position squaring, as the report will reflect a tightening supply situation. With Placements at just 85% of year-ago levels, marketings by mid-year next year will be down considerably.
