Cattle On Feed Seen At Four-Year Low
The cattle trade is expecting Friday's USDA monthly Cattle On Feed Report to show the July 1 feedlot inventory at a four-year low due to exceptionally strong June marketing.
According to a survey taken by OsterDowJones Commodity News, trade estimates of the July 1 feedlot inventory average 95.1% of a year earlier in a range from 94.4% to 96%.
Estimates of June marketing average 106% of a year earlier in a range from 103.7% to 108%, while estimates of June feedlot placements average 102.3% in a range from 96.9% to 109%.
Editors note: Richard Brock, The Corn and Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.
To see more market perspectives, visit Brock's Web site at www.brockreport.com.