Cattle on Feed Report Released Soon

Tomorrow afternoon’s monthly cattle on feed report, even if it’s considered neutral, would-be a plus to the cattle and feeder cattle trade in our view. Most cattle feeders continue to pay for quality feeder cattle. Futures offer little or no opportunity to hedge though.

January feeders for the example the highest since mid-July, but at that point in the summer they were coming down from highs at around 360, and they kept going down until bottoming below 300 as August ended. Superior livestock though, recent video auction shows bidding remains active. 840-pound feeder steers out of Oklahoma brought $337 a hundred.

That’s $10 to $15 better than just two weeks ago.

Audio Reporting by Mark Oppold for Southeast AgNet.