USDA’s monthly Cattle on Feed report will be released tomorrow. Analysts’ pre-report consensus estimates are for the total inventory on feed to be 99.9 percent of last year’s 12 million head. The range of estimates was between 99.4 percent and 100.3 percent of 1 December 2023.   12192024dj.png 18.93 KBMarketings are estimated to be 98.2 percent of last year which follows slaughter totals for the month and the calendar as there was one less slaughter day in November 2024 compared to 2023. Placements, the most difficult category to estimate, are expected to be at 95.9 percent of last year. 12192024dj2.png 23.63 KBIf the placement estimate is correct, that would be the lowest volume of placements for November since 2015, and about eq...

TAGS – Livestock, North America