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USDA reported September cattle placements into US feedlots at 2.15 million head, up 13.5% from a year earlier and above the average analyst forecast of 2.046 million. The feedlot cattle supply on October 1 was 10.813 million head, up 5.4%, and analysts expected a 4.6% rise.
Placements above forecast and a larger feedlot supply point to heavier near-term marketings, which pressures live and feeder cattle prices. Larger feedlot placements also mean more feed demand over the coming months.
grainews.caGFM Network NewsOct 21, 2017After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% 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.
