Market News & Headlines >> December Feedlot Placements Seen Up
USDA is expected to report that U.S. feedlot placements in December were larger than a year earlier for the fourth consecutive month when it releases its monthly Cattle-on-Feed report on Friday afternoon.
The main reason placements are likely to be up from a year earlier, however, is because December contained one more business day than it did in 2018. Trade estimates of December U.S. feedlot placements average 103.2% of a year earlier in a range from 100.5%-105.3%, according to a survey of eight analysts by Dow Jones Newswires.
If placements come in at the average of trade estimates, they would run 1.824 million head, 57,000 head larger than a year earlier and would be the largest for the month in 14 years.
Pre-report estimates of the Jan. 1 U.S. feedlot inventory average 102.2% of a year earlier in a range from 101.6%-102.5%. At the average of trade expectations, the Jan. 1 feedlot inventory would be 11.947 million head, 257,000 head larger than a year earlier and would be the largest in nine years.
Feedlot marketings are also expected to be up from a year earlier. Trade estimates of December marketings average 105.2% of a year earlier in a range from 103.9%-105.8%. If December feedlot marketings come in at the average or trade expectations, they will run 1.832 million head, up 91,000 head from a year earlier and would be the largest for the month in nine years.