AGRIBUSINES: Bullish Cattle On Feed Report

Tighter cattle supplies and poor returns in feedlots resulting in low bids turned out a bullish cattle on feed report Friday, with placements that may be price-supportive later this year.

Cattle on feed numbered 10.9 million, 7% below last year's numbers.

Total placements in February were the lowest since the reports began in 1996, just 1.48 million head, which was down an astounding 14% from a year ago.

Marketing's of fed cattle were also down 7% from a year ago at 1.64 million head.

Analysts also think producers may also be holding back animals for breeding, hoping for better pastures later this year.


Get every new post delivered to your Inbox.

Join 2,370 other followers