No Surprises in Today’s Cattle on Feed Report

Posted on 07/20/2018 2:11 PM

USDA’s July Cattle on Feed Report was a bit of a snoozer, as all three categories came in basically in line with pre-report expectations. The number of cattle on feed as of July 1 stood at 11.553 million head, up 4% from year-ago levels and a record-high for the month.

 

USDA
(% of year-ago)

Avg. Trade Estimate

(% of year-ago)

On Feed
July 1

104

104.0

Placements in June

101

100.6

Marketings in June

101

101.1

The lack of surprises means that on Monday, traders will likely shift their attention back to cash market fundamentals pretty quickly. Cash cattle negotiations once more stretched late in the week, so where cash action eventually gets underway will be a focal point on Monday. Early indications pointed to steady to higher trade and today's report did little to change that assumption. 

Add new comment