Loading…
The USDA's Cattle on Feed report showed October feedlot placements up 5% year over year despite tight cattle inventories. USDA analysts said 750-800 lb feeder steers averaged about $254/cwt, roughly 4% above last year.
Strong feeder prices and beef demand are encouraging producers to move cattle into feedlots.
Heavy placements keep feeder supplies moving into the feedlot pipeline, which supports corn and feed demand. Tight inventories and firm feeder prices point to continued strength in cattle values.
pnwag.netGlenn VaagenNov 26, 2024After 227 past bullish report events, FCATTLE moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
