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USDA's December Cattle on Feed report showed feedlot inventories on December 1 at 11.739 million head, up 2% and the largest December total since 2011. November placements fell 5% year over year, the third straight monthly decline.
Lower carcass weights and aggressive marketings kept feedlots current.
Lower placements tighten feeder cattle supply ahead, which supports feeder prices, though large inventories and lighter carcass weights cap fed cattle gains. The price direction is bullish for feeders and neutral for fed cattle.
feedstuffs.comKrissa Welshans2018年12月31日在过去 227 次看涨的报告事件之后，架子牛 在 5 个交易日内中位数变动 +0.4%（57% 上涨；中间一半区间为 -1.2% 至 +1.5%），20 个交易日内为 +1.1%。
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 Cattle on Feed report released on the move date showed a 5% drop in November placements, a third straight monthly decline, which signals tighter forward supply and likely supported futures even though inventories were up 2%.
