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Report to show On Feed up from year-ago levels.

30-day outlook calls for below-normal precip across Central & Southern Plains

This is the second highest October 1 inventory since the series began in 1996.

Report showed all categories above expectations.

As expected, leaves federal funds rate unchanged.

But projected breakevens for live cattle do not appear favorable.

The inventory and placements were 4 percent above July 1, 2010.

Global macroeconomic factors weigh heavily on cattle feeders’ bullishness, while the short cattle supply is not forgotten by bears.

Make management and marketing decisions that will take advantage of the opportunities.

Faced with few options to fight drought, many producers are moving cattle out of the Lone Star state.