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USDA reported cattle on feed totaled 12.0 million head on December 1, 2019, 2% above a year earlier. November placements were 2.09 million head, 5% above 2018, while marketings of fed cattle fell 3% to 1.81 million head.
Placements running ahead of last year and a larger on-feed inventory signal more fed supply later in 2020, which is bearish for fed cattle prices, while lower marketings partly offset this near term.
aginfo.netDec 25, 2019After 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 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
