The USDA released the September Cattle on Feed Report Friday. Cattle and Calves on feed as of September 1, 2014 totaled 9.8 million head, 1 percent below last year and 5% below the 5 year average. Placements during August totaled 1.72 million head, 3 Percent below 2013. Marketings of fed cattle during August totaled 1.69 million head, 10 percent below 2013. Both Placements and Marketing were the lowest reported since the series began in 1996. Cattle on Feed and Marketings were right in line with the average trade guesses. However, August placements were about 1% higher that the trade expected. These results are based from surveys of feedlots with 1,000+ head in 16 states. As of this Monday morning this has given some pressure to Live Cattle Futures. Futures are down between 50-75 points with more pressure to the deferred months.
This is intended for informational purposes only. Trading may not be suitable for all investors and may involve substantial risk of loss. You should fully understand those risks prior to trading. Past financial results are not necessarily indicative of future performance.
If you would like additional market advice please contact:
Blue Reef Agri-Marketing, Inc