USDA’s cattle on feed report, released on Friday, provided little drama as the numbers fell closely in line with expectations. Due to the Memorial Day long weekend in the US, the report was released mid day and the market closed slightly higher after the report was released.
Total cattle on feed was estimated at 11.6 million, 5% higher than a year ago.
#Cattle on Feed
On Feed 105%
— Darin D. Fessler (@DDFalpha) May 25, 2018
April placements of cattle totalled 1.70 million head, 8% lower than a year ago. Net placements were 1.63 million head.
April marketings of fed cattle totaled 1.80 million head, 6% higher than the same month a year ago.
Last week, August Live Cattle were up 4.075 to 102.30 (+4.15%) and December cattle were up 3.675 to 111.325 (+3.41%).