
USDA NASS reported 11.6 million head of cattle on feed on Oct. 1, 1% below last year and the second-highest October inventory on record.
September placements were 3% below 2020 and marketings fell 3%.
Lower placements and marketings point to a smaller future beef supply, which is supportive for cattle prices, though on-feed numbers remain high and limit feedlot demand for feed.
After 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 227 past bullish report events, Feeder Cattle 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.