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A USDA-based outlook notes that the US on-feed cattle inventory was about 1% smaller than a year earlier but more than 4% larger than two years prior. Heifers on feed rose just over 2% year over year, and feeders placed more cattle in the 600 to 799 pound weight classes.
Placements of very heavy and very light feeders declined.
More heifers on feed add to beef supply later, which can weigh on cattle prices over time. Shifts in placement weights affect feed demand for corn and other rations.
doi.orgMintert, JamesJan 1, 2019After 78 past neutral report events, Live Cattle moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% over 20.
After 44 past neutral report events, Feeder Cattle moved a median +0.3% over 5 sessions (59% higher; middle half -0.9% to +1.0%), and +0.5% 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.
