USDA Cattle on Feed Report Preview
Placements Again a Wild Card in May 1 Cattle on Feed Report
OMAHA (DTN) -- Friday's USDA May 1 Cattle on Feed report will again be a wild card, especially when it comes to placements.
With the continued drought in key beef-producing states, there's naturally going to be more cattle moved and more cattle placed than compared to years when wheat and grass are more available. But with how few feeder cattle the U.S. currently possesses, the question continues to be: Where exactly will Friday's placement data fall? Analysts are indecisive on what Friday's data will unveil, as placement figures range from 90.5% of a year ago all the way to 99.6% of a year ago.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
I think it's also important to note that feeder cattle imports from Mexico, especially, are astronomically higher than what they were a year ago. The Daily Livestock Reporter shared that, "According to USDA, imports of feeder cattle from Mexico in the four weeks ending April 29 were 27,448 head or 45% higher than a year ago."
Needless to say, Friday's report will keep the market guessing until it's unveiled.
USDA will release its May 1 Cattle on Feed at 2 p.m. CDT on Friday.
USDA Actual | Average Estimate | Range | |
On Feed May 1 | 96.7% | 95.9-97.2% | |
Placed in April | 95.9% | 90.5-99.6% | |
Marketed in April | 90.0% | 89.0-90.5% |
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
(c) Copyright 2023 DTN, LLC. All rights reserved.