USDA Cattle-on-Feed Report Bullish For Cattle Futures This Week
US - Last Friday afternoon's U.S. Department of Agriculture cattle-on-feed report showed all three categories on the bullish side of the average pre-report expectations.The bullish USDA report data and the higher cash cattle trade last week should support live and feeder cattle futures early this week.
USDA's monthly cattle-on-feed report showed a combination of smaller-than-expected placements of cattle on feed and heavier-than-expected marketing of animals last month.
Cattle placed on Feed in August were at 93 per cent of last year's level in August. Cattle placed on feed during August were at 89 per cent of last year's level, while marketing of cattle were at 96 per cent of a year ago.
TheCattleSite News Desk
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