The USDA’s November cattle on feed numbers were mostly towards the low end of pre-report estimates.
Placements were the lowest for the month since the series of reports started, dropping 10% on the year due to the tight supply of ready numbers.
Most of those cattle placed during October weighed less than 800 pounds.
October marketings fell 8% on the year, also due partially to tight ready numbers, along with the more aggressive marketings earlier in the year.
The total number of cattle on feed on November 1st was 2% lower than last year.
The numbers do look at least somewhat supportive for cash, futures, and wholesale, but might already be mostly factored in to prices.
