On average, analysts surveyed by Reuters expect USDA’s Cattle on Feed Report to show there were around 11.729 million head of cattle on feed as of June 1, which would be a 0.5% rise from year-ago. Compared with June 1, 2019 levels, the number of cattle on feed would down 11,000 head. Comparisons to year-ago are skewed by 2020’s Covid-19-related processing disruptions as well as shifts in consumption patterns. Placements are expected to slide 4.6% from year-ago and 5.1% from two years ago. Marketings are expected to surge 23.4% from year-ago but slide 9.7% compared to May 2019 levels. The report will be released at 2:00 p.m. CT Friday.
| Avg. Trade Estimate (% of year-ago) | Range | Million head |
On Feed on June 1 | 100.5 | 99.0-101.2 | 11.729 |
Placements in May | 95.4 | 93.0-99.4 | 1.958 |
Marketings in May | 123.4 | 121.6-126.0 | 1.870 |