USDA Cattle on Feed Report Preview
18 Apr 2024
OMAHA (DTN) -- Friday's April 1 USDA Cattle on Feed report isn't expected to ruffle the market's feathers and send the complex tumbling lower. However, it is unnerving to note the increase in total on-feed numbers amid weaker marketings as, seasonally, this can become problematic for the industry, as showlists naturally grow larger over the summer.
The expected 8.2% decrease in placements comes as no surprise, as placements were sharply higher in February following the severe snowstorms that affected the entire country in January. It will likely become a trend over the next couple of months that placements will be reported lower, as feedlots have procured calves/feeders earlier this year because they knew that supplies would be low and prices would likely be higher the closer time got to turn-out season.
Friday's April 1 Cattle on Feed report isn't expected to have a significant effect on the spot market.
**
USDA will release its April 1 Cattle on Feed report at 2 p.m. CDT on Friday.
| | USDA Actual | Average Estimate | Range |
| On Feed April 1 | | 102.0% | 101.6-102.5% |
| Placed in March | | 92.8% | 90.0-94.7% |
| Marketed in March | | 89.0% | 86.5-91.3% |
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
(c) Copyright 2024 DTN, LLC. All rights reserved.