Cattle on Feed Preview 02/22 16:10
By John A. Harrington
DTN Livestock Analyst
USDA Actual Average Guess Range
Cattle on Feed:
On Feed February 1 xxxxx 107.5% 107.0-108.5%
Placed in January xxxxx 101.0% 97.5-103.0%
Marketed in January xxxxx 106.0% 105.5-106.0%
The combination of cheap corn, strong beef demand and rising fed
cattle prices has been driving aggressive placement activity for
nearly a solid year. Indeed, most private analysis believe the
Feb. 1 on-feed report scheduled for release Friday afternoon at
2 CST will confirm the 11th consecutive month where feedlot in-
movement has exceeded the previous year.
While the trade is expecting only a 1% placement increase over
2017, the average guess still anticipates the second-largest
January placement total since 2006.
Fed marketings last month may be near 6% greater than last year.
Yet when adjusted for one less marketing day this year,
marketings are expected to be just 1-2% larger than 2017.
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