Market News & Headlines >> Aug. 1 Feedlot Inventory Seen Record Large
USDA is expected to report that the Aug. 1 U.S. feedlot inventory was record large for the date, with an increase in feedlot placements over last year offsetting larger feedlot marketings.
Trade estimates of the Aug. 1 feedlot inventory average 104.5% of a year earlier in a range from 103.6%-105.8%, according to a Reuters News Service survey of 12 analysts. At the average of trade expectations, the Aug. 1 feedlot inventory would total 11.076 million head, 472,000 head larger than a year earlier and would be the largest for the date in USDA data going back to 1996.
Pre-report estimates of July feedlot placements average 106.3% of a year earlier in a wide range from 100.6%-114.4%. At the average of estimates, July placements would total 1.717 million head and would be up 102,000 head from a year earlier and would be the largest for the month in seven years.
Estimates of July feedlot marketings average 104.7% of a year earlier in a range from 101.8%-106.0%. At the average of estimates, July marketings would total 1.868 million head, 253,000 head larger than a year earlier and the largest for the month in five years.