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Cattle on Feed Preview                 02/22 16:10

By John A. Harrington
DTN Livestock Analyst

                        USDA Actual  Average Guess      Range
Cattle on Feed:
On Feed February 1         xxxxx         107.5%     107.0-108.5%
Placed in January          xxxxx         101.0%      97.5-103.0%
Marketed in January        xxxxx         106.0%     105.5-106.0%

The combination of cheap corn, strong beef demand and rising fed 
cattle prices has been driving aggressive placement activity for 
nearly a solid year. Indeed, most private analysis believe the 
Feb. 1 on-feed report scheduled for release Friday afternoon at 
2 CST will confirm the 11th consecutive month where feedlot in-
movement has exceeded the previous year.

While the trade is expecting only a 1% placement increase over 
2017, the average guess still anticipates the second-largest 
January placement total since 2006. 

Fed marketings last month may be near 6% greater than last year. 
Yet when adjusted for one less marketing day this year, 
marketings are expected to be just 1-2% larger than 2017.

For more Harrington comments, check out 
http://www.feelofthemarket.com


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