Feedlot In-Movement Continues to Set Record Lows

by November 19, 2012

November 19, 2012

by Jerry Harrington, DTN Livestock Analyst

The November 1 Cattle on Feed report proved to be well anticipated with

all three major categories lining up close with trade expectations. Note

that big lot placement during October (2.18 million head) was the

smallest in-movement for the month since the data series began in 1996.

Cattle on Feed November 1

USDA Actual: 95{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Average Guess: 94.5{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Range: 93.5 – 96{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Placed in October

USDA Actual: 87{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Average Guess: 87.5{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Range: 83.5 – 92{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Marketed in October

USDA Actual: 103{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Average Guess: 102.5{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Range: 101 – 103.5{8a1275384cb93b18aa3d41af404144e37302a793dec468d70d54c97b65cfac05}

Cattle futures are likely to open some higher on Monday when trade

resumes, encouraged by confirmation of declining on-feed supplies and

evidence of generally steady feedlot sales developing late this week.

Source: DTN

Posted by Haylie Shipp