Following are pre-report guesses for Friday afternoon’s Cattle on Feed Report:
Report expectations | Avg. Trade Guess | Range |
% of year-ago levels | ||
On Feed | 96.3 | 95.0-98.0 |
Placements | 112.1 | 104.9-122.0 |
Marketings | 102.9 | 100.0-104.1 |
The range of guesses for Placements of 104.0%-122.0% makes this the “wildcard” category for the report. If traders’ average guesses are on target, the report will be more supportive for deferred futures as it suggests marketings will be tightening dramatically later this year.
