Marketings are expected to surge vs. year-ago but decline compared to May 2019

On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report to show there were around 11.729 million head of cattle on feed as of June 1, which would be a 0.5% rise from year-ago. Compared with June 1, 2019 levels, the number of cattle on feed would down 11,000 head. Comparisons to year-ago are skewed by 2020’s Covid-19-related processing disruptions as well as shifts in consumption patterns. Placements are expected to slide 4.6% from year-ago and 5.1% from two years ago. Marketings are expected to surge 23.4% from year-ago but slide 9.7% compared to May 2019 levels. The report will be released at 2:00 p.m. CT Friday.