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The USDA-NASS November Cattle on Feed report showed October placements at 102.4% of last year and marketings at 95.5%. The November 1 on-feed inventory was 11.948 million head, 99.8% of last year.
Fed steer and heifer prices were $134-135/cwt, with packers actively seeking cattle.
Tightening feedlot supplies and strong fed prices support cattle values, while higher feedlot cost of gain pressures feeder margins.
tscra.orgKristin HawkinsNov 22, 2021After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
