Traders are preparing for Friday afternoon’s monthly Cattle on Feed Report. Based on the average trade guess, traders expect the report to show the total of cattle On Feed as of March to be down modestly from the previous month, but still up from year-ago levels. The range of Placement estimates is wide, although most expect for the figure to come in higher than year-ago, which were light for that month and featured one less business day than 2012.
Following are pre-report guesses:
Report expectations | Avg. Trade Guess | Range |
% of year-ago levels | ||
On Feed | 102.3 | 101.8-103.5 |
Placements | 102.7 | 98.9-108.9 |
Marketings | 99.5 | 98.2-101.8 |
