COF Expected to Show Another Dive in Placements

Posted on Thu, 05/21/2020 - 15:13

On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report on Friday to show there were around 11.239 million head of cattle on feed as of May 1. Placements and marketings are expected to be down sharply from year-ago in April, but the wide range of trade estimates for both categories show there is quite a bit of uncertainty as to how big of a drop occurred as processing slowed due to Covid-19-related closures and absenteeism.  

 

Avg. Trade Estimate

(% of year-ago)

Range

On Feed on May 1

95.1

94.1-96.0

Placements in April

77.4

71.8-86.7

Marketings in April

75.1

70.0-82.7

 

We will have coverage of the report online and in “Evening Report” Friday after its 2:00 p.m. CT release.