Market News & Headlines >> April Feedlot Placements Seen Down
The livestock trade is expecting USDA’s monthly Cattle-on-Feed report to show that the U.S. feedlot inventory shrunk during April, as feedlot placements fell more than 9% versus a year earlier, while monthly marketings rose.
Trade estimates of April feedlot placements average 90.9% of a year earlier in a range from 85.6%-94.2%, according to a survey of 12 analysts by Reuters News Service. At the average of estimates, April placements would be 1.680 million head, down 168,000 head from last year.
Trade estimates of April feedlot marketings average 106.0% of a year earlier in a range from 105.7%-106.3%. At the average of trade estimates, April marketings would total 1.805 million head, 102,000 more than a year earlier and would be the largest for the month in five years.
Pre-report expectations for the May 1 feedlot inventory average 104.9% of a year earlier in a range from 104.1%-105.4%. At the average of trade estimates, the May 1 feedlot inventory would be 11.535 million head, 537,000 head larger than a year earlier, but 194,000 head smaller than a month earlier.