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Cattle on Feed Report Preview   08/18  11:00

By ShayLe Stewart
DTN Livestock Analyst
                      USDA Actual   Average Estimate       Range
On Feed Aug. 1                         100.8%       100.1-101.1%
Placed in July                          98.8%        95.0-101.3%
Marketed in July                        96.9%        96.0-102.1%

OMAHA (DTN) -- Friday's Cattle on Feed report will again focus 
primarily on placement data. Given the widespread predictions of 
analyst's placement figures, there's a chance this report could 
be either bullish or bearish depending on which way placement 
numbers fall.
Unfortunately, I'm concerned analysts are underestimating 
placements as July saw a tremendous increase in sale receipts 
thanks to drought-related pressures, especially in the South 
with Texas leading the charge.
Now whether or not this report will shake the market remains 
unknown, but given how strong the market fundamentals sit in 
regard to limited market-ready supplies of fat cattle and 
tremendous packer demand, I believe the futures market could 
trade doggishly for one or two trading days but largely the 
complex will keep with its strong trend as feeder cattle are 
needed everywhere.  
USDA will release its Aug. 1 Cattle on Feed report at 2 p.m. CDT 
on Friday.

ShayLe Stewart can be reached at ShayLe.Stewart@dtn.com


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