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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