The Cattle Business Weekly

Guess Your Own COF: Strong fundamentals seen in March

By Matt Dabrowski It’s time to guess your own Cattle On Feed report. The next report will be released Thursday, April 17, on account of Good Friday. Last month’s report revealed a significant milestone: the lowest March feedlot inventory since 2017, highlighting our position in the contraction phase of the cattle cycle. March was rough for outside markets, and usually we would see spillover into cattle futures. But the fundamentals were too strong, and cattle bucked the trend. Live cattle futures rose 5.1% and feeder cattle 4.1%, higher than the commodity index (2.6%) or stocks, which dropped 5.8%. Auction markets...

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