Cattle On Feed Didn’t Give Cattle The Boost They Need

Friday's monthly Cattle on Feed would be seen as moderately negative. USDA counted only -0.6% fewer March cattle placements than last year. The trade expected -5.2% from last year (ALDL -3.6%). We still have seven months in a row of placement declines. Cattle finished out in September - December will still be lower than last year, simply not as low as previously expected. We have seven months that averaged -4.7% from the prior year.

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