OMAHA (DTN) -- Friday's USDA Cattle on Feed report could have a bullish outlook, as both total on-feed numbers and placements are expected to be lower than a year ago.
This is the first of many reports where both on-feed numbers and placements are lower, which will undoubtedly become a trend moving forward, as there are fewer beef cows contributing calves to the marketplace.
The only figure in Friday's Cattle on Feed report that could see some variance is the total number of cattle marketed. It wouldn't surprise me to see a bigger number posted Friday afternoon, as throughput has been phenomenal. If that does indeed happen, the report becomes even more supportive.
USDA will release its Nov. 1 Cattle on Feed at 2 p.m. CST on Friday.
|USDA Actual||Average Estimate||Range|
|On Feed Nov. 1||98.3%||97.8-99.1%|
|Placed in October||96.4%||94.6-100.0%|
|Marketed in October||100.8%||100.5-101.7%|
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
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