
USDA's August Cattle on Feed report showed 10.92 million head on feed on August 1, about 2% below a year earlier. July placements were about 6% lower year over year, and marketings also fell about 6%.
Fed cattle prices were around $240 to $245 per hundredweight.
Smaller feedlot pipelines and lower placements point to tight future fed cattle supply, supporting prices for both fed and feeder cattle.
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.
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.