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Feeder and stocker cattle receipts were 475,200 head versus 405,900 a week earlier. The September and October feeder contracts fell 4.675 cents for the week after the Cattle on Feed report showed July placements at 111 percent of a year earlier.
Heavier-than-expected placements add feeder supply ahead of fall, which is bearish for feeder cattle prices and signals stronger future feed demand from feedlots.
capitalpress.comStaff ReportsAug 28, 2020After 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 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 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.
