Mike Pearson tells us how the USDA cattle on feed report released last week might tell the future of the cattle markets.
For the past three months, feeder cattle and live cattle have moved back to record high prices which has been driven by record level of cattle.
The Cattle on Feed report released last week shows in the March update that traders were surprised to find a larger number of calves moving into the feedlot than anticipated.
The cattle on feed report tracks 3 categories: Placements, marketing and total cattle on feed.
For total cattle on feed, the report showed 11.8 million head of…
