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USDA's November 1 Cattle on Feed report showed the market rising after the release, with nearby fed cattle up about $3/cwt since early November. Oklahoma State economist Derrell Peel described the placement data as the most positive part of the report, with strong marketings keeping the industry current.
Solid marketings and lower placements tighten near-term fed cattle supply, supporting fed cattle prices heading into the new year.
iowaagribusinessradionetwork.comStaff EditorNov 26, 2018After 413 past report events, Feeder Cattle moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.7%), and +0.9% 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.
