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The Hightower Report said, “The USDA Cattle on Feed Report showed placements for the month of October at 90.0% versus trade expectations of 91.9% to 95.5%. Marketings for October came in at 92.0% of last year as compared with the average estimate of 92.9% and a range of 92.0% to 97.0%. Cattle on Feed supply as of November 1 came in at 97.8% of last year versus average trade estimate of 97.7% with a range of 96.7% to 98.6%.”
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