COF Report Expected to Show Sharp Reduction in Placements

May 18, 2012 04:38 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

100.3

99.4-101.1

Placements

88.4

82.9-98.6

Marketings

98.6

96.4-99.2

 


Juli says:Traders expect the report to reflect a tightening supply picture, as Placements are seen dropping sharply compared to year- ago levels. If the average trade guess of 88.4% of year-ago is on target, Placements of 1,578 head in April would be down nearly 12% from March!

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