by John Harrington, DTN Livestock Analyst
Cattle on Feed
USDA Actual: 104{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
Average Guess: 104{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
Guess Range: 103 – 105.5{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
Placed in October
USDA Actual: 99{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
Average Guess: 99{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
Guess Range: 96 – 104{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
Marketed in October
USDA Actual: 103{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
Average Guess: 101.5{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
Guess Range: 99.5 – 103{fe867fa2be02a5a45e8bbb747b653fe2e9d0331fd056b85cd0c1a3542435a96e}
The November 1 Cattle on Feed report looks neutral to somewhat friendly. Possibly, October marketings were somewhat larger than expected, underscoring the current status of feedlots and country bargaining power. Given that the discount of nearby live cattle futures to cash, look for the board to open moderately higher on Monday with new buyers encouraged by the larger than expected marketing total.
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Posted with DTN Permission by Haylie Shipp
