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OMAHA (DTN) -- Friday's May 1 USDA Cattle on Feed report needs to be on your radar, as it's expected to be a heavy hitter for the marketplace.
With placements anticipated to range anywhere from 96.2% to 108.5%, traders will likely remain on edge until the data is released and clarity can be sought. The two biggest reasons why the placement data is expected to be greater than a year ago are because drought has pushed more feeders into feedlots earlier than normal, and feedlot turnover is slower than years past as cattle continue to be fed to greater weights.
I wrote extensively about Friday's Cattle on Feed report in my latest Call the Market column. You can check it out for a further deep dive here: https://www.dtnpf.com/….
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USDA will release its May 1 Cattle on Feed report at 2 p.m. CDT on Friday.
| USDA Actual | Average Estimate* | Range | |
| On Feed May 1 | 101.6% | 100.2-102.4% | |
| Placed in April | 104.6% | 96.2-108.5% | |
| Marketed in April | 90.7% | 89.9-91.7% | |
| * Estimates compiled by Dow Jones. | |||
ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com
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