USDA will publish the November Cattle on Feed report on Friday November 22nd at 2pm central time. The monthly report offers data on the number of cattle on feed, placements in feedlots, and marketings.
At this point in 2024 many analysts had expected to see the number of heifers retained for breeding begin to increase. That has not materialized in the latest Cattle on Feed reports and the beef cattle herd size remains historically low.
Ross Baldwin is a hedging strategist with AgMarket.net and he tells the Iowa Ag Radio Network about the pre-report estimates for Friday’s report.
Baldwin says that the on feed number could be an indicator of what to expect with the cash trade market.
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