Market News & Headlines >> Feedlot Inventory Seen Below Year Earlier
USDA is expected to report that placements of cattle in U.S. feedlots were below a year earlier for the third straight month in December when it releases its monthly Cattle-on-Feedlot report on Friday afternoon.
USDA is also expected to peg the monthly U.S. feedlot inventory below a year earlier for the first time in six months.
Trade estimates of the Dec. 1 U.S. feedlot inventory average 99.4% of a year earlier in a range from 98.8%-100.0%, according to a Reuters News Service survey of 10 analysts. At the average of trade estimates, the Jan. 1 feedlot inventory would total 11. 886 million head, a modest 72,000 below a year earlier.
Pre-report estimates of December feedlot placements average 97.0% of a year earlier in a range from 93.0%-100.0%. At the average of trade estimates, placements would total 1.773 million head and would be the lowest for December since 2007.
Pre-report expectations for December feedlot marketings average 100.6% of a year earlier in a range from 100.0%-101.8%. At the average of trade estimates, December marketings would equal 1.845 million head and would be the largest since 2010.