Friday afternoon’s monthly USDA Cattle-on-Feed report is expected to peg the Aug. 1 U.S. feedlot inventory above a year earlier on larger July feedlot placements and sluggish feedlot marketings.
Pre-report trade estimates of the Aug. 1 feedlot inventory average 100.8% of a year earlier in a range from 99.7%-101.4%, according to a Dow Jones Newswires survey of eight analysts.
Pre-report expectations for July feedlot placements average 106.2% of a year earlier in a range from 101.7%-108.7%, while expectations for July feedlot marketings average 99.6% in a range from 98.8%-101.5%.
