Shocking Placements

Friday’s USDA Cattle on Feed report delivered a bit of a shock in cattle placements. Ever Ag Marketing broker-agent Colton Vondra said the markets will adjust to the report. “Our pre-report estimates came in at 99.4 percent of a year ago and the actual placements came in at 104.3 so we placed a fair amount more cattle year-over-year. The trade could possibly digest that as bearish news.”