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Iowa Agribusiness Radio cites the USDA Cattle on Feed report showing 11.5 million head on feed July 1, 2019, up 2% from a year earlier and the highest July 1 inventory since 1996. Corn has hit a five-year high, and Derrell Peel urges cow-calf producers to decide whether to sell calves early or retain ownership.
Record feedlot inventories add supply pressure on fed cattle, while expensive corn raises feeding costs and affects calf placement and feeder demand.
iowaagribusinessradionetwork.comStaff EditorJul 22, 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 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.
