USDA Cattle on Feed Report Preview
19 Sep 2024
OMAHA (DTN) -- As always, this time of year, both the on-feed and placement data will be big-ticket items on Friday when USDA releases its monthly Cattle on Feed Report.
Once again, there is a large variance between what analysts believe placements could be, as projections are anywhere from down 3.2% to potentially up 2.3%. Given that last month's placement data was up notably (up 6% compared to a year ago), I tend to believe that placements will be either slightly lower or steady compared to a year ago, as hot temperatures and the break in feeder cattle prices likely had a negative effect on feeder cattle sales in August.
But one factor that the market doesn't seem to be giving enough attention to and that could prove my point wrong is feeder cattle imports. As of last week, Mexican feeder cattle imports alone are up 23% from a year ago.
All eyes will be on Friday's Cattle on Feed report, as the marketplace is desperate for some stability and hopes that Friday's report doesn't reveal any surprises.
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USDA will release its Sept. 1 Cattle on Feed report at 2 p.m. CDT on Friday.
| | USDA Actual | Average Estimate | Range |
| On Feed Sept. 1 | | 100.8% | 100.2-101.3% |
| Placed in August | | 98.9% | 96.8-102.3% |
| Marketed in August | | 96.6% | 96.3-97.5% |
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
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