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Analysts described USDA's October Cattle on Feed report as bullish after placements came in well below expectations for a third straight month. The report showed 11.37 million cattle on feed as of Oct.
1, slightly below the year-ago 11.42 million. Marketings were near expectations, and on-feed numbers fell below year-ago levels after five months of growth.
Smaller placements mean fewer cattle entering feedlots for future slaughter, tightening future supply and supporting cattle and feeder prices.
hpj.comDave BergmeierNov 5, 2026After 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.
