USDA Cattle on Feed Report Preview

OMAHA (DTN) -- Friday's Sept. 1 USDA Cattle on Feed report is expected to be the same song and dance, reflecting a pattern the market has seen over the last several months: higher on-feed totals than a year ago, while both placements and marketings are lower.

While some in the industry may look at the placement data and say, "If placements are lower than a year ago, then that's a bullish report," I won't be repeating that bullish refrain.

Long term, an ever-growing number of cattle on feed is not bullish for the industry. It's burdensome and will create supply pressures down the road, something cattle producers and feedlot managers need to be soberly aware of.

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

**

	USDA Actual	Average Estimate	Range
On Feed Sept. 1		101.8%	101.4-102.3%
Placed in July		97.3%	93.9-98.4%
Marketed in July		96.2%	95.3-96.4%
* Estimates compiled by Dow Jones.

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

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