
USDA's November 1 Cattle on Feed report showed 11.7 million head on feed, 2% below a year earlier. October placements were 2.04 million head, 10% lower and the lowest for October since 1996, and marketings fell 8%.
Lower placements and marketings point to tighter fed cattle supplies ahead, which supports cattle prices, though the Tyson plant closure news weighed on sentiment.
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.
After 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.
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.