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USDA Cattle on Feed Report Preview
ShayLe Stewart 6/20 11:04 AM

OMAHA (DTN) -- Friday's Cattle on Feed report isn't expected to rattle the market, as the analysts' estimates for the report are neutral. What will be important to note is the number of cattle on feed, those weighing 1,000 pounds or more.

Given what we've recently seen in the cash cattle market, one is led to believe that supplies of market-ready cattle are thin, as packers have been incredibly aggressive lately in procuring more cattle from the cash sector. But given how many feeders were placed early this winter, monitoring the number of heavier-weight cattle remains crucial, as it could indicate any potential swings in leverage for the cash sector. Thankfully, showlists are current right now, but monitoring showlists through the dog days of summer is vital to understanding the market's direction.

**

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

USDA Actual Average Estimate Range
On Feed June 1 99.2% 98.3-100.7%
Placed in May 99.4% 95.0-102.4%
Marketed in May 100.1% 99.3-101.2%

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

 
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