USDA Cattle on Feed Report Preview
Oct. 1 Cattle on Feed Report Expected to Have Little Market Impact
OMAHA (DTN) -- October's Cattle on Feed Report will be interesting on Friday. With most figures closely hugging the 100% threshold, the report shouldn't significantly affect the market one way or another if the projected figures hold true.
It is interesting that placement estimates range 12.5 percentage points from high to low, indicating there is little consensus as to exactly how many cattle have been transported and placed in feedlots during September.
The current feeder cattle market has rallied more than some assumed. But it is fair to note that the fall run took a little longer than usual to get underway, and it happened to fall in the month of October, not September where the current COF numbers are generated from. With this being the case, it wouldn't come as a shock if the placement projection is on the lower side of that 12.5-percentage-point range.
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Overall, the Oct. 1 COF report should have little market impact if projected figures hold true. Thus, cattlemen can expect a predominately bullish report. November's COF report could be telling for the market, as the most-watched category -- placements -- could be higher.
The USDA Cattle on Feed report is scheduled for release at 2 p.m. CDT on Friday, Oct. 25.
USDA Actual | Average Estimate | Range | |
On Feed Oct. 1 | 98.7% | 97.7-99.8% | |
Placed in September | 100.8% | 95.1-107.6% | |
Marketed in September | 101.2% | 98.2-101.5% |
ShayLe Stewart can be reached at shayle.stewart@dtn.com
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