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USDA's September Cattle on Feed report showed cattle on feed 0.6% above a year earlier as of September 1, with August placements 1.4% below last year. Fed cattle marketings for August were about 3.6% below year-ago levels, and figures came in close to pre-report estimates.
Lower marketings and placements near expectations suggest feedlot supplies are not expanding enough to pressure fed cattle prices.
feedlotmagazine.comSource Will Secor, Ph.D., Assistant Professor, Extension Livestock Economist, Masters of Agribusiness (MAB) Coordinator, Department of Agricultural, Applied EconomicsSep 25, 2024After 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 44 past neutral report events, Feeder Cattle moved a median +0.3% over 5 sessions (59% higher; middle half -0.9% to +1.0%), and +0.5% 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.
