On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report to show there were around 11.324 million head of cattle on feed as of July 1, down 1% from year-ago levels. Placements are expected to slide 4.1% and Marketings are expected to climb 2.1% from year-ago. But the relatively wide range of trade estimates (particularly for placements), signals quite a bit of uncertainty about the data coming Friday at 2:00 p.m. CT.
| Avg. Trade Estimate (% of year-ago) | Range | Million head |
On Feed on July 1 | 99.0 | 96.8-102.0 | 11.324 |
Placements in June | 95.9 | 90.4-105.0 | 1.724 |
Marketings in June | 102.1 | 99.4-105.0 | 2.010 |