Iowa Ag Connection - Placements Number is Biggest Unknown in March 1 Cattle on Feed Report

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Placements Number is Biggest Unknown in March 1 Cattle on Feed Report
Iowa Ag Connection - 03/17/2023

Friday's USDA Cattle on Feed report will again show fewer numbers of cattle on feed and lighter placements, but marketings compared to a year ago are expected to be slightly lower.

The biggest unknown variable about this upcoming report lies in the placement data. With a wide range in analysts' estimates from 90% to 96.9%, the market could very well react bullishly if the data finds itself on the lighter end toward 90%.

But with the live cattle and feeder cattle contracts trading lower this week thanks to outside economic pressures, the real question is this: Will this report affect the market? Cattlemen desperately need something to reinvigorate the cattle market's positive morale, and if placements end up significantly lighter than a year ago, maybe this report could reignite the cattle market's fire.

Source: iowacorn.org

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