Friday’s USDA cattle on feed report could show some major categories at all-time lows, reflecting the extremely tight supply.
According to Allendale, August placements are expected to be down 5.2% on the year, the lowest since the series of reports started in 1996. Allendale adds feeding margins on outgoing cattle have been positive for 10 consecutive months.
Marketings could be down 1.1% on the year and the total number of cattle on feed as of September 1 is expected to decline 2.6%.
The report is out Friday, September 19 at 3 PM Eastern/2 PM Central.