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The USDA November Cattle on Feed report showed October placements at 102.4% of last year and marketings at 95.5%, with the November on-feed total at 99.8% of last year. Fed steer prices rose above $130/cwt as packers chased cattle, and feeder prices rose seasonally.
Fifth straight monthly year-over-year decline in feedlot inventory tightens fed supplies, supporting fed and feeder cattle prices into 2022.
beefmagazine.comDerrell PeelNov 22, 2021After 268 past bullish report events, LCATTLE moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 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.
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.
