USDA Cattle on Feed Report Preview

OMAHA (DTN) -- Friday's Sept. 1 USDA Cattle on Feed report will be one of potential surprises again this go-around as, of course, the placement data remains a question mark.

The fact remains that a large percentage of producers elected to market their calves earlier this year than normal, as they wanted to take advantage of the strong prices the market was offering. Not to mention, the U.S. border remains closed to all Mexican cattle imports, which has exacerbated the limited supplies of feeder cattle in the U.S., all while the domestic U.S. beef cow herd sits at a historic, multi-decade low. But for those analysts who believe the placement numbers may not have been as low as some assumed, their logic most likely stems from the fact that the fall run is fully underway.

Nevertheless, the placement category is where the vulnerability lies for Friday's Cattle on Feed report, and I personally tend to believe that the placement data will be on the lower range of the spectrum. Yes, the fall run is underway, but those placements likely won't show up until next month's report.

USDA will release its Sept. 1 Cattle on Feed at 2 p.m. CDT on Friday.

**

	USDA Actual	Average Estimate	Range
On Feed Sept. 1		99.2%	98.7-99.7%
Placed in August		91.3%	88.6-93.4%
Marketed in August		87.1%	86.3-87.6%
* Estimates compiled by Dow Jones.

ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com

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