USDA's June Cattle on Feed report showed May placements at 92% of last year and marketings at 90%, leaving on-feed inventory at 99% of a year ago. Texas placements fell 17% and Oklahoma placements fell 22%, which analysts attribute to the ban on Mexican cattle imports over New World screwworm.
The loss of Mexican feeder imports is tightening domestic feeder supply, which could create a sizable annualized deficit and support feeder cattle prices.
After 122 past bullish disease events, FCATTLE moved a median +0.4% over 5 sessions (60% higher; middle half -1.0% to +1.6%), and +2.0% over 20.
After 148 past bullish disease events, LCATTLE moved a median +0.4% over 5 sessions (62% higher; middle half -0.5% to +1.2%), and +1.4% 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.