The rate of placements of cattle on US feedlots has slowed from a four-year high, data on Friday is expected to show – but by how much may depend on farmers' reaction to soaring corn prices at a time of readily available grass.
Traders are expecting feedlots to have taken on, at best, 5.2% more cattle last month than in September last year.
That would be a slowdown from the figure of 7% in August which stunned analysts who had expected a rise of just 1.1%, and sent cattle prices tumbling.
And many observers believe the decline may prove even sharper, forecasting a year-on-year fall of 1.4% in September placements.
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