Oklahoma's Latest Farm
And Ranch News

Your Update from Ron Hays of RON
Tuesday, October 27, 2020
Latest Cattle on Feed Report Termed Bearish For The Market Says OSU's Dr. Peel
The latest USDA Cattle on Feed report could be bearish for the market said Dr. Derrell Peel, OSU Extension livestock market economist. Dr. Peel analyzed the report during an interview with yours truly.

Starting first with the numbers, cattle placements were at 105.9 percent compared to a year ago, marketings at 106.2 percent giving us total cattle on feed of 103.8 percent of last year.

The placement number is a little bigger than expected and this may be bearish but hard to say, Peel noted, as cattle markets have been under pressure the last several weeks.

The marketing number is slightly higher than expected, Peel said, and this is the third month in a row with big placements.

The OSU economist said the numbers indicate we are still trying to get the ripples caused by the coronavirus worked through the system.

It certainly doesn’t mean we suddenly found a bunch more cattle that we didn’t have, he said.

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