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November Cattle on Feed placements were expected to run 3.6 to 13.1 percent above a year earlier, reflecting strong feeder demand in October. Marketings have stayed above year-ago levels, and feedlot inventories have not become burdensome.
Feeding returns have been negative for three months.
Strong placements and marketings point to steady fed supply, while higher feeder costs and negative feeding returns weigh on feedlot demand for feeder cattle.
u.osu.eduSmith atNov 29, 2017After 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 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
