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USDA's November Cattle on Feed report showed placements down 6% and total cattle on feed 3% above a year ago, slightly outside pre-report expectations. Missouri economist Scott Brown said lighter calves marketed after summer drought may tighten supplies into 2019.
A slowdown in placements points to tighter beef supplies in 2019, supporting cattle prices, though downside risk remains.
brownfieldagnews.comMeghan GrebnerNov 21, 2018After 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.
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.
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.
