Cattle On Feed Report 06/23 14:15
By John Harrington
DTN Livestock Analyst
USDA Actual Average Guess Range
Cattle On Feed:
On Feed June 1 103% 102.5% 101.5-103.5%
Placed in May 112% 110.5% 106.5-114.0%
Marketed in May 109% 109.0% 103.5-111.0%
The June 1 USDA Cattle on Feed report released Friday afternoon
looks neutral to somewhat negative. Specifically, the May
placement total turned out to be a bit larger than the trade was
expecting. Totaling 2.119 million head, it represents the
largest spring placement seen since 2007.
Additionally, the May marketing total was a bit smaller than
generally expected. Keep in mind that last month contained one
more business day than 2016 (making the daily average marketing
only 3%-4% larger).
Live cattle futures will probably open 50-100 lower when trade
resumes on Monday based upon sober fed supply implications for
the third quarter.
For more Harrington comments check out
Get your local Cash Bids emailed to you each morning from DTN – click here
to sign up for DTN Snapshot.