USDA Cattle on Feed Report Neutral to Friendly

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by John A. Harrington

On Feed Apr 1

  • USDA Actual Average: 96
  • Average Guess:  97.00{4d08edaf359bc2115b18a651716ebd427a137946ddca2143fa23b3ea721061e4}
  • Guess Range:  96.5-98.5

Placed in March

  • USDA Actual Average:  103
  • Average Guess:  106.50{4d08edaf359bc2115b18a651716ebd427a137946ddca2143fa23b3ea721061e4}
  • Guess Range:  104.50-111.0

Marketed in March


  • USDA Actual Average:  104
  • Average Guess:  105.00{4d08edaf359bc2115b18a651716ebd427a137946ddca2143fa23b3ea721061e4}
  • Guess Range:  101.5-106.0

The April 1 Cattle on Feed report looks neutral to friendly. March placements turned out to be considerably below expectations, falling below the bottom of the guess range. This fact should be somewhat supportive of summer live cattle futures when trade resumes on Monday. On the other hand, last month’s marketing total turned out to be a bit smaller than expected, suggesting that feedlots are less current than imagined.

 

For more Harrington comments check out http//:www.feelofthemarket.com

 

© Copyright 2010 DTN/The Progressive Farmer, A Telvent Brand. All rights reserved.

Reprinted by Haylie Shipp with DTN permission.

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