The U.S. Department of Agriculture (USDA) recently released its Cattle on Feed (COF) report for November 1, 2018 numbers.
The report looks bullish and the market went up on Friday. Overall, nearby fed cattle are up about $3 per hundredweight since early November.
The placement number in last Wednesday’s COF report seemed to be the most positive and coupled with strong marketings, it showed the industry is staying current in marketings even though a couple of years of more cattle going into the lots has increased the total on feed number.
Dr. Derrell Peel, livestock economist with Oklahoma State University, spoke with farm broadcaster Ron Hays from the Radio Oklahoma Farm Network about the report.
AUDIO: Profit Matters 11-26-18