Wide Range of February Placement Estimates Ahead of Friday’s Cattle on Feed Report
Friday's March 1 USDA Cattle on Feed report is again highly anticipated by market participants, as there are varying opinions on where exactly February's placements will land.
OMAHA (DTN) — Friday’s March 1 USDA Cattle on Feed report is again highly anticipated by market participants, as there are varying opinions on where exactly February’s placements will land.
The report will likely have a bearish effect on the market, as traders only seem willing to acknowledge whether the report’s data is higher or lower than a year ago, instead of taking into account the market’s whole perspective.
With the snowstorms that hindered transportation and feeder cattle sales in January, one should only logically expect placements to be lighter in January and heavier in February. But even with that knowledge, it’s likely that Friday’s report will at least affect the following Monday’s trade, if not an additional day or two, as traders are expected to react negatively to the report’s findings — unfortunately.
Read the most recent Sort & Cull blog, which highlights some expectations for Friday’s Cattle on Feed report, here: https://www.dtnpf.com/agriculture/web/ag/blogs/sort-cull/blog-post/2024/03/18/brace-fridays-cattle-feed-report.
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USDA will release its March 1 Cattle on Feed report at 2 p.m. CDT on Friday.
| USDA Actual | Average Estimate | Range | |
| On Feed March 1 | 100.9% | 100.1-104.7% | |
| Placed in February | 106.4% | 102.7-108.8% | |
| Marketed in February | 104.1% | 103.3-104.7% |
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com