Bottom Line analysts join others suggesting we may see increased cattle placements and increased cattle numbers in the on-feed report this afternoon. Current estimates show total cattle on feed in April could be up two, two and a half percent this afternoon.
Placements during April up seven, maybe eight percent. That would be the first month-over-month increase in placements in over two years. Cattle futures have been under some pressure this week, while feeder cattle futures still show buyers willing to step up, especially for deferred contracts into the fall.
Even if placements are higher today, it will take time, 12, 24 months or more to rebuild the herd.
Audio Reporting by Mark Oppold for Southeast AgNet.
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