# Ag economist says Cattle on Feed report has some good news for cattle prices - Brownfield Ag News

> USDA's June Cattle on Feed report showed May placements at the low end of pre-report estimates, and June 1 on-feed inventory was 100.2% of year-earlier levels, the second highest June 1 figure on record. University of Missouri economist Scott Brown said drought in cattle country could reduce pasture and hay and affect cattle prices into 2023.

- Date: 2021-06-29 · published 2021-06-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/46711-ag-economist-says-cattle-on-feed-report-has-some-good-news-for-cattle-prices
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower placements point to fewer cattle later in 2021 and 2022, which is supportive for cattle prices, while drought-driven forage losses could tighten supply further and raise feed demand for grain.

## Read by commodity

- CORN: neutral
- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2018-11-21 | [Cattle on Feed report has positive news for producers - Brownfield Ag News](https://feedsoft.ai/events/62169-cattle-on-feed-report-has-positive-news-for-producers-brownfield-ag-news.md) | +1.5% | +4.2% |
| LCATTLE | 2018-10-22 | [Cattle futures supported by on Feed numbers - Brownfield Ag News](https://feedsoft.ai/events/62700-cattle-futures-supported-by-on-feed-numbers-brownfield-ag-news.md) | +0.5% | +2.8% |
| LCATTLE | 2019-02-08 | [Adjusted beef production forecast could be good news - Brownfield Ag News](https://feedsoft.ai/events/60724-adjusted-beef-production-forecast-could-be-good-news-brownfield-ag-news.md) | +0.4% | +2.8% |
| LCATTLE | 2019-05-16 | [US herd slowdown good news for cattle prices \| Meat & Livestock Australia](https://feedsoft.ai/events/59050-us-herd-slowdown-good-news-for-cattle-prices-meat-and-livestock-australia.md) | -1.1% | -3.0% |
| LCATTLE | 2021-03-25 | [Hog futures higher ahead of bullish Hogs and Pigs report - Brownfield Ag News](https://feedsoft.ai/events/5153-hog-futures-higher-ahead-of-bullish-hogs-and-pigs-report-brownfield-ag-news.md) | +1.4% | +3.0% |
| FCATTLE | 2018-11-21 | [Cattle on Feed report has positive news for producers - Brownfield Ag News](https://feedsoft.ai/events/62169-cattle-on-feed-report-has-positive-news-for-producers-brownfield-ag-news.md) | +0.6% | +0.4% |
| FCATTLE | 2018-10-22 | [Cattle futures supported by on Feed numbers - Brownfield Ag News](https://feedsoft.ai/events/62700-cattle-futures-supported-by-on-feed-numbers-brownfield-ag-news.md) | +0.1% | -5.3% |
| FCATTLE | 2021-03-25 | [Hog futures higher ahead of bullish Hogs and Pigs report - Brownfield Ag News](https://feedsoft.ai/events/5153-hog-futures-higher-ahead-of-bullish-hogs-and-pigs-report-brownfield-ag-news.md) | +6.0% | -2.6% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/ag-economist-says-cattle-on-feed-report-has-some-good-news-for-cattle-prices/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.