CHICAGO (B)--Chicago Mercantile Exchange traders called the Sept. 15 monthly U.S. Department of Agriculture seven-state cattle-on-feed report neutral, with futures forecast steady to firm Sept. 18.

"We have got to keep the kills big and see beef demand increase," said trader Philip Stanley, referring to the how the market can overcome the high on-feed numbers.

USDA estimated cattle on feed Sept. 1 at 110% of last year compared with analysts' average forecast of 109.9%, within a range of 108.0% to 111.5%.

August placements were estimated at 100% compared with the average analyst estimate of 99.4%, within a range of 93.0% to 105.0%.

USDA forecast August marketings at 108% compared with the analyst average of 105.3%, in a range of 103.0% to 109.0%.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.