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 | 102.5 | 102.0-103.3 |
Placements | 98.8 | 94.2-101.4 |
Marketings | 100.3 | 94.2-103.7 |
Juli says: Traders look for the report to show the total number of cattle in feedlots on Feb. 1 up from year-ago levels due to strong Placements in 2011. But while feedlot supplies remain elevated, the supply of calves available to feedlots, reflected by the Placements category, is tightening. While weight data suggests feedlots are getting backed up, the feedlot situation is not burdensome.
