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The number of cattle on feed hit an October record of 11.7 million head. Marketings rose 6.2% and placements rose 5.9% from a year earlier, with heavier placements concentrated in Nebraska and Kansas.
Heavier placements and record feedlot numbers point to more fed cattle supply in coming months, which pressures cattle prices and reflects sustained feed grain use.
u.osu.eduSmith atOct 28, 2020After 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.
