Market News & Headlines >> Feb. 1 Feedlot Inventory Seen Above Last Year
Friday afternoon’s monthly USDA Cattle-on-Feed report is expected to peg the Feb. 1 U.S. feedlot inventory nearly 1.0% above a year earlier following strong January feedlot placements and reduced feedlot marketings.
Trade estimates of the Feb. 1 feedlot inventory average 100.8% of a year earlier in a range from 99.6%-101.1% of a year earlier, according to a Reuters News Service survey of 11 livestock analysts.
Pre-report estimates of January feedlot marketings average 95.1% of a year earlier in a range from 94.3%-98.4%. The year-over-year decrease in marketings is anticipated in large part because this January held 2 fewer market days than January 2020. However, despite the difference, expectations for January placements of cattle into feedlots average 99.8% of a year earlier in a range from 95.1%-103.0%.
If the Feb. 1 feedlot inventory comes in at the average of trade estimates, it should total about 12.023 million head and would be the largest for the date in 15 years.
If January feedlot placements come in at the average of trade estimates, they should total roughly 1.951 million head and would be the smallest in three years. If feedlot marketings come in at the average of estimates, they will total about 1.836 million head and will be the smallest in four years.