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Cattle on Feed Report Preview 05/19 17:58
Cattle Market Watching On-Feed Numbers Closely in May 1 USDA
Report
By ShayLe Stewart
DTN Livestock Analyst
USDA Actual Average Estimate Range
On Feed May 1 101.5% 101.2-101.8%
Placed in April 96.5% 93.6-97.8%
Marketed in April 97.9% 97.7-98.0%
OMAHA (DTN) -- Friday's USDA Cattle on Feed report will be one
that the market watches closely. On-feed numbers are expected to
decrease from a month ago, as placements have lessened and
marketings have been superb. But the real question is this: How
does the report align with year-ago figures, and specifically,
how many cattle are still on feed?
The market is fully aware that record numbers of cattle sit in
feedlots thanks to drought pressures, so instead of being
consumed with that reality, cattlemen are more concerned about
tracking placements and trying to forecast what the live cattle
market could do in the early to mid-fall and when the glut of
on-feed supplies will begin to lessen. Paying close attention to
the weight breakdown of placements will be key in this report,
as it will help indicate fat cattle availabilities in the later
months. In the months ahead, watching marketing data will become
the market's focus as cattlemen and feedlots alike want on-feed
supplies to be worked through as quickly as possible.
USDA will release its May 1 Cattle on Feed report at 2 p.m. CDT
on Friday.
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
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