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Cattle on Feed Preview 09/17 15:27
Higher On-Feed Totals Overshadow Lower Placements
By ShayLe Stewart
DTN Livestock Analyst
USDA Actual Average Estimate Range
On Feed Sept. 1 101.8% 101.4-102.3%
Placed in August 97.3% 93.9-98.4%
Marketed in August 96.2% 95.3-96.4%
OMAHA (DTN) -- Friday's Sept. 1 USDA Cattle on Feed report is
expected to be the same song and dance, reflecting a pattern the
market has seen over the last several months: higher on-feed
totals than a year ago, while both placements and marketings are
lower.
While some in the industry may look at the placement data and
say, "If placements are lower than a year ago, then that's a
bullish report," I won't be repeating that bullish refrain.
Long term, an ever-growing number of cattle on feed is not
bullish for the industry. It's burdensome and will create supply
pressures down the road, something cattle producers and feedlot
managers need to be soberly aware of.
USDA will release its Sept. 1 Cattle on Feed report at 2 p.m.
CDT on Friday.
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
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