The December cattle on feed report will be released Friday after the close at 2PM CT from USDA. Below is a table of analyst estimates ahead of the report.
|December Cattle on Feed||December 2020||Est.||Range of Estimates|
The cattle futures market has been battered this week with lower boxed beef prices. If USDA matches near or below analysts estimates of cattle on feed that could help to highlight that supplies are tightening. However with cattle marketing’s likely to dip below year ago levels traders will still see a well supplied beef market with unsure demand.
The long term positive could be another round of light placements. Sale barns in the South have reported that lighter cattle have returned to wheat pasture and other winter pastures. This helps keep them out of the feed yard and spread out the current heavier supplies.