Market News & Headlines >> February Feedlot Placements Seen Down
USDA’s monthly Cattle-on-Feed report due out Friday afternoon is expected to peg February feedlot placements slightly below a year earlier and put the March 1 feedlot inventory marginally above a year earlier.
Trade estimates of the March 1 feedlot inventory average 100.1% of a year earlier in a range from 99.1%-100.8%, according to a survey of 10 analysts done by Reuters News Service. At the average of trade estimates, the supply of cattle on feed as of March 1 in the twelve top producing states would be 10.775 million head, the largest in four years, but only 5,000 head above a year earlier.
Pre-report estimates of February feedlot placements average 98.9% of a year earlier in a range from 94.0%-103.5%. February placements at the average of trade estimates would be 1.691 million head, 19,000 head below a year earlier, but 81,000 head above the five-year average for the month.
Trade expectations for February feedlot marketings average 103.3% of a year earlier in a range from 102.5%-104.0%. February marketings at the average of trade estimates would be the largest in five years and would total 1.643 million head, 52,000 above a year earlier.