Market News & Headlines >> Feedlot Inventory Seen Below Last Year
USDA’s monthly Cattle-on-Feed report, due out Friday afternoon, is expected to show the supply of cattle in U.S. feedlots as of April 1 was slightly below a year earlier with strong April marketings offsetting larger April feedlot placements.
Trade estimates of the April 1 feedlot inventory average 99.7% of a year earlier in a range from 98.7-100.5%, according to a Reuters News Service survey of 10 analysts. At the trade average, the feedlot inventory would be 10.822 million head.
Pre-report estimates of March feedlot placements average 106.5% of a year earlier in a range from 101.0-109.5%. At the average of trade estimates, March placements would equal 2.015 million head.
Trade expectations for March feedlot marketings average 109.4% of a year earlier in a range from 108.1-110.0%. If actual placements are in line with the average, they would be 1.911 million head.