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Feedlots with more than 1,000-head capacity placed 12.9% more cattle in May than a year earlier, and feedlot demand helped lift calf prices in the second quarter. USDA expects feeder calf prices to peak in the third quarter and ease in the fourth, while large placements should supply fed cattle to packers.
Heavy feedlot placements imply abundant fed cattle supplies, which limits packer bidding power and supports lower prices later in the year. Feeder calf prices are expected to decline in the fourth quarter.
agproud.comAug 24, 2017After 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.
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.
