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DTN analyst ShayLe Stewart argues that the market overreacts to Cattle on Feed reports when actual USDA numbers differ from analyst estimates. The April 21 report showed placements and on-feed totals below year-ago levels, though it was bearish relative to expectations.
Traders reacting to small deviations from estimates can create short-term volatility in live and feeder cattle futures even when underlying supplies remain tight.
dtnpf.comShayLe StewartApr 24, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
