Loading…
The November USDA-NASS Cattle on Feed report showed October placements at 102.4% of last year and marketings at 95.5%. The November 1 on-feed total was 11.948 million head, 99.8% of last year, the fifth consecutive monthly decline.
Fed cattle prices pushed above $130 as packers chased market-ready supplies.
Declining feedlot numbers and tighter fed supplies support live and feeder cattle prices, while higher feeding costs weigh on feeder margins.
extension.okstate.eduNov 22, 2021extension.okstate.eduNov 22, 2021After 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.
After 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.
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.
