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Derrell Peel reports that fed cattle markets are expected to strengthen into late Q3, with auction calf and stocker prices rising counter-seasonally. USDA Cattle on Feed data show July placements at 91.9% of last year and feedlot inventories at 98.1% of 2020 levels, with cull cow prices pulling back seasonally.
Lower feedlot placements and falling inventories tighten cattle supplies, supporting higher cattle prices and softer demand for feed rations per head.
tscra.orgKristin HawkinsAug 23, 2021After 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.
