Market News & Headlines >> April Feedlot Placements Seen Down Slightly
Friday afternoon’s monthly USDA Cattle-on-Feed report is expected to show April feedlot placements down slightly from a year earlier, with April feedlot marketings up and the May 1 feedlot inventory virtually unchanged versus last year.
Trade estimates of April feedlot placements average 99.2% of a year earlier in a wide range from 93.0%-110.2%. At the average of trade estimates, April placements would come in at 1.536 million head. Weak live cattle prices and sharply negative feedlot marketings during likely limited April placements after large placements a month earlier.
Trade estimates of April feedlot marketing average102.4% of a year earlier in a range from 100.7%-108.4%, according to a survey of 10 analysts by Reuters News Service. Marketings at the average of pre-report estimates would total 1.678 million head.
Pre-report expectations for the May 1 feedlot inventory average 100.1% of a year earlier in a range from 99.0%-100.7%. At the average of trade expectations, the May 1 feedlot inventory would be 1.546 million head.