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USDA's monthly cattle on feed report showed March feedlot placements of 1.99 million head, down only 0.4% year over year against trade estimates of a 7.8% decline. Analysts say ongoing herd liquidation and beef cow slaughter will tighten future beef supplies.
Heavy placements add near-term fed supply and pressure cash cattle prices, while the continued breeding herd reduction supports higher prices later.
farmweeknow.comDANIEL GRANT FarmWeekApr 22, 2022After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% 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.
