COF Report To Reflect Tightening Supplies

October 18, 2012 02:26 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

97.8

96.8-98.7

Placements

85.0

81.0-89.7

Marketings

89.8

88.8-92.8

 


Juli says: Live cattle futures are finding support ahead of the report by pre-report position squaring, as the report will reflect a tightening supply situation. With Placements at just 85% of year-ago levels, marketings by mid-year next year will be down considerably.

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