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USDA's October Cattle on Feed report showed on-feed inventory of 11.3 million head, about 1% below a year earlier but more than 4% above two years ago. Heifers on feed rose just over 2% year over year, and September net placements were up 2% from a year earlier.
More heifers on feed point to a larger future female supply in feedlots, which can weigh on feeder cattle values over time. The effect on near-term prices is modest.
ag.purdue.eduSarah E Zahn2019年10月31日在过去 44 次中性的报告事件之后，架子牛 在 5 个交易日内中位数变动 +0.3%（59% 上涨；中间一半区间为 -0.9% 至 +1.0%），20 个交易日内为 +0.5%。
在过去 78 次中性的报告事件之后，活牛 在 5 个交易日内中位数变动 +0.2%（54% 上涨；中间一半区间为 -1.0% 至 +1.0%），20 个交易日内为 +0.7%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件；仅描述已发生的情况，不代表未来走势。不构成投资建议。
The Oct 31 Cattle on Feed analysis (placements up 2%, heifers on feed up) affects supply expectations and was digested by the market that day.
