World Perspectives
livestock

Cattle on Feed Report: Placements Higher than Expected

USDA released the monthly Cattle on Feed report on Friday with placements in January, the most difficult category to predict and the only category to differ significantly from the pre-report expectations, coming in near the high point of the range of estimates. 

Also, total inventory – which was the fourth highest for February – was slightly higher (43,000 head) than a year ago, and marketings were slightly lower (2,000 head) than a year ago. The report did place some pressure on futures, which opened lower on Monday morning.  With January placements above expectations – after coming in right at the pre-report estimate in December – the market is back in the pattern of the LH 2023. During that period, p...

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