
CME cattle futures rose on November 21, 2018 after USDA Cattle on Feed data showed 11.692 million head in US feedlots as of November 1, up 3% year over year but below expectations. October placements fell 6% to 2.248 million head, well below forecasts.
Tighter feedlot supplies into March-June 2019 support live and feeder cattle prices, though traders remain cautious about how aggressively packers will bid in cash markets.
After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% 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.