High degree of uncertainty about coming cattle placements number
On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report to show there were around 11.324 million head of cattle on feed as of July 1, down 1% from year-ago levels. Placements are expected to slide 4.1% and Marketings are expected to climb 2.1% from year-ago. But the relatively wide range of trade estimates (particularly for placements), signals quite a bit of uncertainty about the data coming Friday at 2:00 p.m. CT.
|
Avg. Trade Estimate (% of year-ago) |
Range |
Million head |
On Feed on July 1 |
99.0 |
96.8-102.0 |
11.324 |
Placements in June |
95.9 |
90.4-105.0 |
1.724 |
Marketings in June |
102.1 |
99.4-105.0 |
2.010 |