USDA Cattle on Feed Report Preview
Placements Number Is Biggest Unknown in March 1 Cattle on Feed Report
OMAHA (DTN) -- Friday's USDA Cattle on Feed report will again show fewer numbers of cattle on feed and lighter placements, but marketings compared to a year ago are expected to be slightly lower.
The biggest unknown variable about this upcoming report lies in the placement data. With a wide range in analysts' estimates from 90% to 96.9%, the market could very well react bullishly if the data finds itself on the lighter end toward 90%.
But with the live cattle and feeder cattle contracts trading lower this week thanks to outside economic pressures, the real question is this: Will this report affect the market? Cattlemen desperately need something to reinvigorate the cattle market's positive morale, and if placements end up significantly lighter than a year ago, maybe this report could reignite the cattle market's fire.
USDA will release its March 1 Cattle on Feed at 2 p.m. CDT on Friday.
|USDA Actual||Average Estimate||Range|
|On Feed March 1||95.3%||94.2-96.2%|
|Placed in February||93.1%||90.0-96.9%|
|Marketed in February||95.7%||95.0-96.0%|
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
(c) Copyright 2023 DTN, LLC. All rights reserved.