Cattle on Feed Report 11/21 15:05
By John Harrington
DTN Livestock Analyst
Actual Guess Range
Cattle On Feed:
On Feed November 1 100.0% 100.0% 98.5-101.0%
Placed in October 99.0% 95.5% 90.5-100.0%
Marketed in October 92.0% 92.5% 92.0-96.5%
The November 1 Cattle on Feed report appears to be generally neutral,
though October placement did exceed trade expectations by several points.
It's possible the larger than expected October placement could work to
pressure deferred live cattle contracts early next week, especially given
how much the 2015 board rallied over the last five sessions.
Yet, generally speaking, this new supply news does not appear to be
shocking. Chances are traders will continue to focus on the short-term
appetite of packers.
For more Harrington comments check out http://www.feelofthemarket.com
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