November US Cattle on Feed Report Leaves Neutral Tone for Market Direction


The US cattle on feed report came out this afternoon.  As feeders, ranchers and long traders are looking for reasons for a higher market next the week of November 21st, this report will leave them with limited answers on market direction.

Read the USDA Report

Anne Wasko describes the report:

Today’s U.S. Cattle on Feed report for November 1 was close to expectations so will be considered neutral by the trade next week. On feed numbers were down 1% as expected while October placements were down 5%. Cattle price lows occurred in October and that likely lead to less interest in placing (and selling) cattle. October marketings remained aggressive at 5% higher than last year (guess had been 4% higher).

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