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Cattle on Feed Report Preview 09/19 12:10
Wide Range of Placement Estimates Ahead of Sept. 1 Cattle on
Feed Report
By ShayLe Stewart
DTN Livestock Analyst
USDA Actual Average Estimate Range
On Feed Sept. 1 100.8% 100.2-101.3%
Placed in August 98.9% 96.8-102.3%
Marketed in August 96.6% 96.3-97.5%
OMAHA (DTN) -- As always, this time of year, both the on-feed
and placement data will be big-ticket items on Friday when USDA
releases its monthly Cattle on Feed Report.
Once again, there is a large variance between what analysts
believe placements could be, as projections are anywhere from
down 3.2% to potentially up 2.3%. Given that last month's
placement data was up notably (up 6% compared to a year ago), I
tend to believe that placements will be either slightly lower or
steady compared to a year ago, as hot temperatures and the break
in feeder cattle prices likely had a negative effect on feeder
cattle sales in August.
But one factor that the market doesn't seem to be giving enough
attention to and that could prove my point wrong is feeder
cattle imports. As of last week, Mexican feeder cattle imports
alone are up 23% from a year ago.
Needless to say, all eyes will be on Friday's Cattle on Feed
report, as the marketplace is desperate for some stability and
hopes that Friday's report doesn't reveal any surprises.
**
USDA will release its Sept. 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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