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Feedlot placements were expected to be strong, with analyst estimates 3.6 to 13.1 percent above a year earlier. Placements in September rose 13.5 percent and October placements were 10 percent above 2016, while marketings stayed aggressive.
Strong placements keep feeder cattle demand firm, although heavier marketings limit the risk of feedlot inventory building up and pressuring fed cattle prices.
fb.orgNov 20, 2017After 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 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.
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.
