Printable Page Livestock   Return to Menu - Page 1 2 3 4 5 7 8 10 11 12 13
Cattle on Feed Report                 03/23 14:00

By John A. Harrington
DTN Livestock Analyst

                        USDA Actual  Average Guess      Range
Cattle on Feed:
On Feed March 1           109.0%         108.0%     107.5-109.0%
Placed in February        107.0%         104.5%     100.5-109.0%
Marketed in February      102.0%         101.0%     100.0-102.0%

The March 1 inventory just released looks neutral to somewhat 
negative. Specifically, the February placement proved to be 
larger-than-the-average guess. As feared by some, dry conditions 
may have forced stockers off winter pasture more aggressively 
than last year. Note the increase in Feb placement in the 
Southern Plains: Kansas: up 11%; Oklahoma: up 12%; Texas: up 

Last month's aggressive placement helped boost the total March 1 
on feed count to the largest level since 2012 (i.e., 11.715 
million head).

Needless to say, the extreme discount structure of the board 
makes it difficult to anticipate the reaction of traders when 
business resumes on Monday. One could certainly argue that any 
bearish implications of the placement total are already dialed 
in deferred live contracts (e.g., June live closed Friday nearly 
$20 below feedlot sales reported on Tuesday).

For more Harrington comments, check out

No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN