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The USDA October Cattle on Feed report was assessed as neutral, with September placements at 96.2% of last year, in line with expectations. Fed cattle marketings were strong, and dry southern Plains pasture conditions pushed feeder cattle into feedyards earlier.
Softer placements and expected modest placements ahead point to tighter feeder supplies, supporting the cattle outlook into next year.
feedlotmagazine.comSource Stephen R. Koontz, Department of Agricultural, Resource Economics, Colorado State University, Courtesy of Livestock Marketing Information CenterOct 25, 2022After 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 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.
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.
