Cattle on Feed Report : USDA Actual Average Guess Range
Cattle on Feed January 1 108.0% 107.5% 107.0-108.0%
Placed in December 101.0% 97.0% 93.5-100.5%
Marketed in December 99.0% 98.5% 98.0-100.5%
The Jan. 1 on-feed report just released looks generally well anticipated. The December placement total turned out to be a bit larger than anticipated, but probably not seen as a greater shocker. With the 2017 placement record now complete, only February of last year saw feedlot in-movement fall below the previous year. December marketing did fall somewhat below late 2016, but keep in mind that last month contained one fewer business days than the year before. We see little here that will push futures one way or the other when business resumes on Monday.
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