COF Report to Reflect Tightening Supplies

April 19, 2012 05:21 AM
 

Traders are preparing for Friday afternoon's monthly Cattle on Feed Report.

Following are pre-report guesses:

 

Report expectations

Avg. Trade Guess

Range

% of year-ago levels

On Feed

102.0

101.3-103.1

Placements

92.3

88.6-96.9

Marketings

94.5

93.0-96.3

 


Juli says: Based on the average pre-report trade guess, traders look for the report to show the number of cattle On Feed down from last month's level. With Placements expected to be down from year-ago, the number on cattle On Feed will soon come in below year-ago levels and stay there the rest of the year.

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