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Cattle on Feed Report Preview 07/18 11:38


Cattle on Feed Report Preview 07/18 11:38

Wide Range of Guesses on June Placements Ahead of Friday's July
1 Cattle on Feed Report

By ShayLe Stewart
DTN Livestock Analyst

USDA Actual Average Estimate Range
On Feed July 1 101.0% 100.1-101.7%
Placed in June 96.4% 89.9-100.7%
Marketed in June 91.5% 90.0-94.5%

OMAHA (DTN) -- Once again, the big-hitting data point in
Friday's July 1 USDA Cattle on Feed report will be placements,
given that last month's placements were up 4%.

If last month's data is accurate, then we should see a reduction
in the June placement data. But given that analysts' pre-report
estimates fall anywhere from 89.9% to 100.7% compared to a year
ago, Friday's data could be a wild card.

As the market trudges through the dog days of summer, seeing
greater on-feed numbers is never settling. But given that
packers have reduced slaughter speeds to hold up the cash
market, it is likely that Friday's on-feed figure could be
steady to somewhat higher.

**

USDA will release its July 1 Cattle on Feed report at 2 p.m. CDT
on Friday.

ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com